2,421 Shares in Labcorp Holdings Inc. $LH Purchased by J.Safra Asset Management Corp

J.Safra Asset Management Corp acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,421 shares of the medical research company’s stock, valued at approximately $678,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in shares of Labcorp during the fourth quarter worth approximately $991,000. Integrated Wealth Concepts LLC increased its position in Labcorp by 7.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after acquiring an additional 177 shares during the period. Goldman Sachs Group Inc. raised its stake in Labcorp by 52.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after acquiring an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Labcorp during the 2nd quarter worth $5,873,000. Finally, First Trust Advisors LP boosted its position in Labcorp by 83.2% during the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after acquiring an additional 39,087 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LH. Piper Sandler raised their price target on Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Truist Financial upped their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $306.00 target price on shares of Labcorp in a research report on Friday, July 31st. Morgan Stanley raised their target price on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $352.00 price target on shares of Labcorp in a research note on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Stock Down 0.0%

LH stock opened at $318.02 on Monday. The firm has a market cap of $25.79 billion, a PE ratio of 26.30, a P/E/G ratio of 1.84 and a beta of 0.87. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $325.58. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The firm has a 50 day simple moving average of $286.24 and a 200 day simple moving average of $274.72.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.21. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities research analysts forecast that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is 23.82%.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 4,669 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the sale, the chief executive officer directly owned 102,565 shares of the company’s stock, valued at $32,858,749.05. The trade was a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the company’s 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 directly owned 6,746 shares in the company, valued at $1,930,637.74. The trade was a 3.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,681 shares of company stock valued at $2,073,617. 0.84% of the stock is currently owned by company insiders.

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.