Hsbc Holdings PLC Acquires 47,850 Shares of Labcorp Holdings Inc. $LH

Hsbc Holdings PLC raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 33.8% during the fourth quarter, HoldingsChannel reports. The firm owned 189,502 shares of the medical research company’s stock after buying an additional 47,850 shares during the quarter. Hsbc Holdings PLC’s holdings in Labcorp were worth $47,608,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after buying an additional 37,197 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after buying an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Labcorp by 10.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,204,276 shares of the medical research company’s stock worth $554,728,000 after acquiring an additional 207,962 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Labcorp by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after acquiring an additional 13,775 shares during the period. Finally, Wellington Management Group LLP grew its position in Labcorp by 15.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after acquiring an additional 289,029 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

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

Labcorp Trading Down 0.1%

LH opened at $286.69 on Monday. The stock’s fifty day moving average is $262.24 and its two-hundred day moving average is $266.27. The company has a market capitalization of $23.51 billion, a P/E ratio of 25.39, a PEG ratio of 2.01 and a beta of 0.89. Labcorp Holdings Inc. has a 52 week low of $241.81 and a 52 week high of $293.72. 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 issued its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the business earned $3.84 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Analysts forecast that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Friday, May 29th were paid a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio is 25.51%.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,903 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The transaction 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 Labcorp 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 directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. The trade was a 16.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is owned by corporate insiders.

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.