SG Americas Securities LLC Lowers Stake in Labcorp Holdings Inc. $LH

SG Americas Securities LLC lowered its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 17.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,352 shares of the medical research company’s stock after selling 11,730 shares during the period. SG Americas Securities LLC’s holdings in Labcorp were worth $15,035,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp during the fourth quarter valued at approximately $26,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Labcorp in the 4th quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new stake in shares of Labcorp in the 3rd quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in Labcorp during the 4th quarter valued at approximately $29,000. Finally, DV Equities LLC purchased a new position in Labcorp during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

Shares of LH opened at $266.56 on Friday. Labcorp Holdings Inc. has a twelve month low of $241.81 and a twelve month high of $293.72. The company has a market capitalization of $21.86 billion, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The firm has a 50 day moving average of $260.87 and a 200 day moving average of $265.44. 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 released its quarterly earnings data 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. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm posted $3.84 EPS. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio is presently 25.51%.

Insiders Place Their Bets

In related news, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at 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 Labcorp 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 completion of the sale, the chief executive officer owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% 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. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of several analyst reports. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Evercore restated an “outperform” rating and set a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Robert W. Baird set a $334.00 price target on shares of Labcorp in a research note on Friday, May 1st. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.