Councilmark Asset Management LLC Takes $1.95 Million Position in Labcorp Holdings Inc. $LH

Councilmark Asset Management LLC purchased a new position in Labcorp Holdings Inc. (NYSE:LH) in the second quarter, Holdings Channel reports. The fund purchased 6,969 shares of the medical research company’s stock, valued at approximately $1,951,000. Labcorp accounts for approximately 1.0% of Councilmark Asset Management LLC’s investment portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in shares of Labcorp by 103.1% during 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 purchasing an additional 2,719,475 shares during the period. Boston Partners bought a new stake in shares of Labcorp during the 4th quarter valued at about $480,271,000. Norges Bank bought a new stake in shares of Labcorp during the 4th quarter valued at about $248,006,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Labcorp during the second quarter worth about $168,222,000. Finally, Bank of New York Mellon Corp bought a new position in Labcorp in the second quarter worth about $142,125,000. 95.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

LH has been the subject of a number of research reports. Truist Financial lifted their target price on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Barclays raised their price target on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Robert W. Baird set a $352.00 price objective on Labcorp in a research report on Friday, July 31st. Piper Sandler upped their price objective on Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Finally, Bank of America increased their target price on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Nine equities 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 stock currently has a consensus rating of “Moderate Buy” and an average price target of $330.00.

Insider Activity at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the transaction, the director owned 6,563 shares in the company, valued at approximately $2,087,165.26. The trade was a 31.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 4,669 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the transaction, the chief executive officer directly owned 102,565 shares of the company’s stock, valued at approximately $32,858,749.05. The trade was a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 9,681 shares of company stock worth $3,027,677 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Price Performance

NYSE LH opened at $337.76 on Wednesday. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $339.76. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. The stock has a market cap of $27.39 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 1.96 and a beta of 0.87. The company has a 50-day moving average price of $295.47 and a two-hundred day moving average price of $277.71.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s payout ratio is presently 23.82%.

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.