Hsbc Holdings PLC Has $47.61 Million Stock Position in Labcorp Holdings Inc. $LH

Hsbc Holdings PLC lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 33.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,502 shares of the medical research company’s stock after purchasing an additional 47,850 shares during the quarter. Hsbc Holdings PLC’s holdings in Labcorp were worth $47,608,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after buying an additional 37,197 shares in the last quarter. Victory Capital Management Inc. raised its position in Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Labcorp by 10.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after purchasing an additional 207,962 shares during the period. Geode Capital Management LLC lifted its stake in Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after purchasing an additional 13,775 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after purchasing an additional 289,029 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Price Performance

Labcorp stock opened at $258.80 on Wednesday. The business’s 50-day simple moving average is $260.89 and its 200 day simple moving average is $265.35. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 1.78 and a beta of 0.90. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72.

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

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s payout ratio is currently 25.51%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.84% of the company’s stock.

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.