Handelsbanken Fonder AB Has $7.87 Million Holdings in Labcorp Holdings Inc. $LH

Handelsbanken Fonder AB grew its stake in Labcorp Holdings Inc. (NYSE:LH) by 50.8% in the third quarter, HoldingsChannel reports. The fund owned 27,419 shares of the medical research company’s stock after acquiring an additional 9,231 shares during the period. Handelsbanken Fonder AB’s holdings in Labcorp were worth $7,871,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Caldwell Trust Co bought a new position in Labcorp in the 2nd quarter worth approximately $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Labcorp in the 2nd quarter valued at $26,000. Motco bought a new stake in shares of Labcorp during the third quarter worth $32,000. Headlands Technologies LLC lifted its stake in shares of Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Labcorp by 48.8% in the third quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after acquiring an additional 40 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Labcorp Trading Up 0.5%

LH opened at $288.92 on Monday. The firm’s fifty day moving average is $268.50 and its two-hundred day moving average is $269.99. The firm has a market cap of $23.81 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 1.97 and a beta of 1.03. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.23 and a current ratio of 1.42.

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

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s dividend payout ratio is presently 27.53%.

Wall Street Analyst Weigh In

LH has been the topic of a number of research reports. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Robert W. Baird boosted their price target on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 18th. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Piper Sandler increased their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. raised their price target on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $304.42.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,273 shares of the firm’s stock in a transaction 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 in the company, valued at $24,838,602.34. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, 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. In the last three months, insiders have sold 6,860 shares of company stock worth $1,954,267. Company insiders own 0.84% of the company’s stock.

Labcorp 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.