Stonebridge Capital Management Inc. Acquires Shares of 1,885 Labcorp Holdings Inc. $LH

Stonebridge Capital Management Inc. bought a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,885 shares of the medical research company’s stock, valued at approximately $528,000.

Several other institutional investors also recently modified their holdings of LH. REAP Financial Group LLC increased its stake in shares of Labcorp by 20.4% during 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 in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Labcorp by 1.7% in the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after buying an additional 40 shares during the last quarter. Hilltop Holdings Inc. increased its position in Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock valued at $409,000 after buying an additional 41 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in Labcorp by 3.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in Labcorp by 37.5% during the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after buying an additional 42 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LH has been the subject of several analyst reports. Truist Financial raised their price target on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $306.00 price objective on shares of Labcorp in a research report on Friday, July 31st. Morgan Stanley lifted their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Piper Sandler increased their price target on shares of Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Finally, Robert W. Baird set a $352.00 price objective on shares of Labcorp in a report on Friday, July 31st. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Price Performance

LH opened at $335.96 on Thursday. The company’s 50-day simple moving average is $297.00 and its two-hundred day simple moving average is $278.11. Labcorp Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $339.76. The stock has a market capitalization of $27.25 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.95 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the company earned $4.35 earnings per share. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, analysts predict that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. 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 is presently 23.82%.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 4,669 shares of Labcorp stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the sale, the chief executive officer owned 102,565 shares of the company’s stock, valued at $32,858,749.05. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii B. Anderson sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the completion of the transaction, the director directly owned 6,563 shares in the company, valued at approximately $2,087,165.26. This represents a 31.37% decrease in their position. 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. Over the last quarter, insiders sold 9,681 shares of company stock worth $3,027,677. Company insiders own 0.84% of the company’s stock.

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.