Skandinaviska Enskilda Banken AB publ Sells 4,649 Shares of Labcorp Holdings Inc. $LH

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 17.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,458 shares of the medical research company’s stock after selling 4,649 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Labcorp were worth $6,447,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of LH. Norges Bank purchased a new position in Labcorp during the second quarter valued at approximately $263,070,000. Lazard Asset Management LLC raised its position in Labcorp by 224.1% during the second quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after purchasing an additional 684,153 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Labcorp by 4,070.6% in the 3rd quarter. Pacer Advisors Inc. now owns 305,746 shares of the medical research company’s stock worth $87,767,000 after acquiring an additional 298,415 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Labcorp by 402.7% during the second quarter. Marshall Wace LLP now owns 348,096 shares of the medical research company’s stock valued at $91,379,000 after buying an additional 278,855 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of Labcorp by 3,917.6% in the third quarter. Bessemer Group Inc. now owns 183,242 shares of the medical research company’s stock worth $52,600,000 after buying an additional 178,681 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Up 1.3%

Labcorp stock opened at $282.26 on Friday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The business’s 50-day simple moving average is $265.13 and its two-hundred day simple moving average is $269.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.35 and a current ratio of 1.42. The company has a market cap of $23.40 billion, a PE ratio of 26.98, a PEG ratio of 1.73 and a beta of 1.03.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating the consensus estimate of $3.95 by $0.12. The business had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.45 EPS. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, February 27th. Labcorp’s payout ratio is 28.29%.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,273 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $284.38, for a total transaction of $1,499,535.74. Following the sale, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at $24,838,602.34. This represents a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total value of $25,266.54. Following the completion of the sale, the executive vice president owned 2,782 shares in the company, valued at approximately $807,948.44. The trade was a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on LH shares. JPMorgan Chase & Co. lifted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. UBS Group decreased their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Robert W. Baird upped their target price on Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday. Ten 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, Labcorp presently has an average rating of “Moderate Buy” and a consensus price target of $302.75.

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.