Sterling Capital Management LLC Decreases Position in Labcorp Holdings Inc. $LH

Sterling Capital Management LLC trimmed its stake in Labcorp Holdings Inc. (NYSE:LH) by 41.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,055 shares of the medical research company’s stock after selling 2,159 shares during the period. Sterling Capital Management LLC’s holdings in Labcorp were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LH. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Labcorp in the fourth quarter worth $26,000. Hilton Head Capital Partners LLC bought a new position in Labcorp during the fourth quarter valued at $27,000. JPL Wealth Management LLC bought a new position in Labcorp during the third quarter valued at $28,000. Eagle Bay Advisors LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at $29,000. Finally, DV Equities LLC purchased a new stake in shares of Labcorp in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 1.6%

Shares of NYSE LH opened at $284.38 on Thursday. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The firm has a market cap of $23.32 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90. The business has a fifty day simple moving average of $261.70 and a two-hundred day simple moving average of $265.94. 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 (NYSE:LH) last posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion for the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts expect that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Friday, May 29th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date was Friday, May 29th. Labcorp’s dividend payout ratio is presently 25.51%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LH shares. Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Robert W. Baird set a $334.00 target price on Labcorp in a research report on Friday, May 1st. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the sale, the chief executive officer owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.