OP Asset Management Ltd Purchases Shares of 8,699 Labcorp Holdings Inc. $LH

OP Asset Management Ltd purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,699 shares of the medical research company’s stock, valued at approximately $2,321,000.

Several other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp during the 4th quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new stake in Labcorp in the fourth quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new stake in Labcorp in the third quarter worth approximately $28,000. Eagle Bay Advisors LLC bought a new position in Labcorp during the fourth quarter valued at approximately $29,000. Finally, DV Equities LLC bought a new position in Labcorp during the fourth quarter valued at approximately $29,000. 95.94% of the stock is currently owned by institutional investors.

Insider Activity

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president owned 3,813 shares in the company, valued at approximately $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 5,903 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. This represents a 5.22% 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 own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LH shares. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a report on Friday, May 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Finally, Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $308.00.

Labcorp Price Performance

LH opened at $272.09 on Friday. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The company has a market cap of $22.31 billion, a price-to-earnings ratio of 24.10, a price-to-earnings-growth ratio of 1.90 and a beta of 0.90. The stock has a fifty day simple moving average of $260.97 and a two-hundred day simple moving average of $265.49. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Research analysts predict that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

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

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.