Lombard Odier Asset Management Switzerland SA Purchases Shares of 4,136 Labcorp Holdings Inc. $LH

Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 4,136 shares of the medical research company’s stock, valued at approximately $1,104,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Group AG raised its holdings in shares of Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock valued at $124,320,000 after acquiring an additional 10,706 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Labcorp by 106.5% during the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock worth $15,470,000 after purchasing an additional 29,899 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 in the last quarter. CIBC Asset Management Inc increased its position in shares of Labcorp by 61.3% in the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock worth $5,011,000 after purchasing an additional 7,592 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

NYSE:LH opened at $301.03 on Tuesday. The business has a 50 day moving average of $270.30 and a 200 day moving average of $269.49. The company has a market capitalization of $24.68 billion, a price-to-earnings ratio of 26.66, a PEG ratio of 1.97 and a beta of 0.89. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $301.79. 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 issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the business earned $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued 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 dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Insider Buying and Selling

In related news, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the transaction, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 business’s stock in a transaction 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. This 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 have sold a total of 6,991 shares of company stock worth $1,796,696 in the last 90 days. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

LH has been the subject of several research analyst reports. Bank of America lifted their target price on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Evercore reissued an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Robert W. Baird lifted their price objective on shares of Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a report on Monday, July 13th. Finally, Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $315.33.

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.