Labcorp Holdings Inc. $LH Stake Raised by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 39.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,029 shares of the medical research company’s stock after buying an additional 26,751 shares during the period. Gotham Asset Management LLC’s holdings in Labcorp were worth $27,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC bought a new stake in Labcorp during the 4th quarter valued at $991,000. Integrated Wealth Concepts LLC grew its stake in shares of Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Labcorp during the second quarter valued at $244,000. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Labcorp by 4.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 12,674 shares of the medical research company’s stock valued at $3,327,000 after purchasing an additional 509 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Labcorp Trading Up 1.0%

Shares of LH stock opened at $266.56 on Tuesday. The stock has a 50-day simple moving average of $272.86 and a 200 day simple moving average of $269.79. The stock has a market capitalization of $21.96 billion, a P/E ratio of 25.48, a P/E/G ratio of 1.80 and a beta of 1.01. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, topping the consensus estimate of $3.95 by $0.12. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the business earned $3.45 earnings per share. Labcorp’s revenue for the quarter was up 5.6% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. On average, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Friday, February 27th. Labcorp’s payout ratio is presently 27.53%.

Analysts Set New Price Targets

Several research firms recently weighed in on LH. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Robert W. Baird raised their target price on shares of Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Weiss Ratings raised shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $304.82.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 8,705 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total transaction of $2,437,051.80. Following the completion of the sale, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at $22,613,209.08. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian J. Caveney sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president owned 30,107 shares of the company’s stock, valued at $8,619,935.17. The trade was a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 16,113 shares of company stock valued at $4,547,450 in the last ninety days. Company insiders own 0.84% of the company’s stock.

About Labcorp

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.