Sumitomo Mitsui Trust Group Inc. Sells 4,744 Shares of Labcorp Holdings Inc. $LH

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,816 shares of the medical research company’s stock after selling 4,744 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Labcorp were worth $47,443,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. UBS Group AG increased its position in shares of Labcorp by 2.2% during the fourth quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock valued at $124,320,000 after buying an additional 10,706 shares during the period. Cinctive Capital Management LP bought a new position in shares of Labcorp in the third quarter valued at approximately $3,297,000. 8 Knots Management LLC boosted its position in shares of Labcorp by 96.6% in the third quarter. 8 Knots Management LLC now owns 204,859 shares of the medical research company’s stock valued at $58,807,000 after acquiring an additional 100,675 shares during the period. Gotham Asset Management LLC grew its stake in Labcorp by 39.2% during the third quarter. Gotham Asset Management LLC now owns 95,029 shares of the medical research company’s stock valued at $27,279,000 after acquiring an additional 26,751 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after acquiring an additional 13,775 shares during the period. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on LH shares. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Sunday. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $313.33.

Labcorp Price Performance

LH stock opened at $276.81 on Monday. The firm has a 50 day simple moving average of $264.07 and a two-hundred day simple moving average of $267.16. The stock has a market cap of $22.70 billion, a PE ratio of 24.52, a P/E/G ratio of 1.94 and a beta of 0.89. Labcorp Holdings Inc. has a one year low of $241.81 and a one year high of $293.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH) last posted its quarterly earnings data 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. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter last year, the company posted $3.84 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s payout ratio is 25.51%.

Insiders Place Their Bets

In other news, EVP Kathryn W. Kyle sold 92 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the transaction, the executive vice president directly owned 3,904 shares in the company, valued at approximately $1,117,285.76. This represents a 2.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. This trade represents 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. Insiders sold a total of 6,991 shares of company stock valued at $1,796,696 over the last 90 days. 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.