Mondrian Investment Partners LTD Has $29.39 Million Holdings in Labcorp Holdings Inc. $LH

Mondrian Investment Partners LTD cut its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 55.3% in the fourth quarter, HoldingsChannel reports. The fund owned 117,165 shares of the medical research company’s stock after selling 144,829 shares during the quarter. Mondrian Investment Partners LTD’s holdings in Labcorp were worth $29,394,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. UBS Group AG raised its stake in shares of Labcorp by 2.2% during the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares in the last quarter. Dakota Wealth Management raised its stake in shares of Labcorp by 98.6% during the 3rd quarter. Dakota Wealth Management now owns 10,303 shares of the medical research company’s stock worth $2,958,000 after purchasing an additional 5,116 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Labcorp by 166.6% during the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock worth $3,477,000 after purchasing an additional 7,568 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Labcorp by 12.0% during the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Cinctive Capital Management LP purchased a new stake in shares of Labcorp during the 3rd quarter worth about $3,297,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent research reports. Piper Sandler raised their price target on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $334.00 price target on Labcorp in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Stock Performance

LH opened at $260.37 on Friday. The firm has a market capitalization of $21.35 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. The stock’s 50 day moving average price is $263.79 and its two-hundred day moving average price is $265.56. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12-month low of $239.75 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last released its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The firm had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities analysts forecast that Labcorp Holdings Inc. will post 17.99 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Friday, May 29th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s payout ratio is currently 25.51%.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $284.91, for a total value of $156,130.68. Following the sale, the executive vice president owned 2,579 shares in the company, valued at approximately $734,782.89. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 16,656 shares of company stock worth $4,524,961. 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.