Cannell & Spears LLC Trims Position in Labcorp Holdings Inc. $LH

Cannell & Spears LLC trimmed its position in Labcorp Holdings Inc. (NYSE:LH) by 1.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 159,580 shares of the medical research company’s stock after selling 2,938 shares during the period. Cannell & Spears LLC owned about 0.19% of Labcorp worth $45,809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of LH. Cinctive Capital Management LP bought a new stake in shares of Labcorp during the 3rd quarter valued at about $3,297,000. Ausdal Financial Partners Inc. bought a new position in shares of Labcorp in the 3rd quarter worth approximately $615,000. Bridgefront Capital LLC bought a new position in shares of Labcorp in the 3rd quarter worth approximately $479,000. Bank of America Corp DE boosted its holdings in shares of Labcorp by 4.0% in the third quarter. Bank of America Corp DE now owns 726,090 shares of the medical research company’s stock worth $208,431,000 after buying an additional 27,879 shares during the last quarter. Finally, Bank of Nova Scotia grew its position in Labcorp by 14.7% during the third quarter. Bank of Nova Scotia now owns 11,652 shares of the medical research company’s stock valued at $3,345,000 after buying an additional 1,497 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Labcorp

In related news, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president owned 30,107 shares in the company, valued at approximately $8,619,935.17. This represents a 4.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, valued at $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. Insiders have sold a total of 16,113 shares of company stock worth $4,547,450 in the last three months. Insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

NYSE LH opened at $263.57 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The business has a 50-day moving average price of $272.59 and a 200-day moving average price of $269.92. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01.

Labcorp (NYSE:LH) last issued its earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the company earned $3.45 EPS. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. As a group, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Friday, February 27th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, February 27th. Labcorp’s payout ratio is 27.53%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LH. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. JPMorgan Chase & Co. upped their price objective on Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Finally, Piper Sandler lifted their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $304.82.

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.