Entropy Technologies LP Purchases Shares of 16,872 Labcorp Holdings Inc. $LH

Entropy Technologies LP purchased a new stake in Labcorp Holdings Inc. (NYSE:LH) during the fourth quarter, Holdings Channel reports. The firm purchased 16,872 shares of the medical research company’s stock, valued at approximately $4,233,000.

A number of other large investors have also recently bought and sold shares of the stock. Victory Capital Management Inc. grew 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 last quarter. Boston Partners bought a new stake in shares of Labcorp during the fourth quarter worth $480,271,000. Norges Bank bought a new stake in shares of Labcorp during the fourth quarter worth $248,006,000. Wellington Management Group LLP grew its holdings in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after purchasing an additional 289,029 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Labcorp by 79.1% during the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after purchasing an additional 275,454 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Price Performance

Labcorp stock opened at $265.45 on Monday. The business’s 50-day simple moving average is $262.65 and its 200 day simple moving average is $265.78. The stock has a market cap of $21.77 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month 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 posted its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.09 by $0.16. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.84 earnings per share. 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 year.

Labcorp Dividend Announcement

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

Insider Activity

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction dated Monday, June 8th. The stock was 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 trade represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares in the company, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

LH has been the topic of several research analyst reports. Piper Sandler increased their target price on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Robert W. Baird set a $334.00 target price on Labcorp in a report on Friday, May 1st. Evercore restated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley restated an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $308.00.

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.