Labcorp Holdings Inc. $LH Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 13.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 632,262 shares of the medical research company’s stock after selling 96,636 shares during the period. Lord Abbett & CO. LLC’s holdings in Labcorp were worth $158,622,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Labcorp by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock valued at $2,471,326,000 after purchasing an additional 37,197 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Labcorp by 20.0% during the 3rd quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock valued at $756,878,000 after purchasing an additional 440,224 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in 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 valued at $554,728,000 after purchasing an additional 207,962 shares in the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 13,775 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after acquiring an additional 289,029 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated 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 transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This trade 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. Insiders own 0.84% of the company’s stock.

Labcorp Price Performance

Shares of LH stock opened at $265.45 on Friday. The firm has a market cap of $21.77 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. Labcorp Holdings Inc. has a 1-year low of $241.81 and a 1-year high of $293.72. The firm has a fifty day moving average of $262.65 and a two-hundred day moving average of $265.77.

Labcorp (NYSE:LH) last announced its quarterly earnings data 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. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were issued a $0.72 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s payout ratio is 25.51%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Piper Sandler raised their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday. Evercore reissued an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $308.00.

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.