CFO Capital Management LLC Acquires New Shares in Labcorp Holdings Inc. $LH

CFO Capital Management LLC acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 2,245 shares of the medical research company’s stock, valued at approximately $563,000.

Other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC grew its holdings in Labcorp by 20.4% in the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock valued at $55,000 after purchasing an additional 37 shares during the last quarter. Hilltop Holdings Inc. boosted its position in shares of Labcorp by 2.6% in the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock worth $409,000 after buying an additional 41 shares in the last quarter. Advisor OS LLC boosted its position in shares of Labcorp by 5.4% in the 3rd quarter. Advisor OS LLC now owns 821 shares of the medical research company’s stock worth $236,000 after buying an additional 42 shares in the last quarter. Pinnacle Associates Ltd. grew its stake in Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after acquiring an additional 42 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after acquiring an additional 42 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research note on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $308.00.

Insider Activity at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Up 0.1%

Labcorp stock opened at $255.96 on Friday. The stock has a market cap of $20.99 billion, a PE ratio of 22.67, a P/E/G ratio of 1.79 and a beta of 0.90. The stock has a 50-day moving average price of $261.33 and a 200 day moving average price of $265.50. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were given 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 of this dividend was Friday, May 29th. Labcorp’s payout ratio is currently 25.51%.

Labcorp Company Profile

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.