Gabelli Funds LLC Sells 2,244 Shares of Labcorp Holdings Inc. $LH

Gabelli Funds LLC decreased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,017 shares of the medical research company’s stock after selling 2,244 shares during the quarter. Gabelli Funds LLC’s holdings in Labcorp were worth $8,276,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Labcorp by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 9,850,631 shares of the medical research company’s stock worth $2,471,326,000 after acquiring an additional 37,197 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Labcorp by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock worth $607,241,000 after purchasing an additional 22,170 shares during the period. Geode Capital Management LLC increased 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 worth $534,023,000 after purchasing an additional 13,775 shares during the period. Finally, Wellington Management Group LLP raised its position 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 valued at $604,488,000 after purchasing an additional 289,029 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Down 0.0%

Shares of LH stock opened at $296.71 on Monday. The stock’s fifty day moving average price is $269.38 and its 200 day moving average price is $269.21. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $298.58. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.89. 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 (NYSE:LH) last released its quarterly 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. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the business posted $3.84 earnings per share. The firm’s revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.72 dividend. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is 25.51%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LH. Bank of America increased their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings raised shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Evercore reissued an “outperform” rating and set a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Finally, Robert W. Baird boosted their price target on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $315.33.

Insiders Place Their Bets

In other news, EVP Kathryn W. Kyle sold 92 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $26,329.48. Following the sale, the executive vice president directly owned 3,904 shares of the company’s stock, valued at $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Bryan T. Vaughn sold 234 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the transaction, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 6,991 shares of company stock valued at $1,796,696. Insiders own 0.84% of the company’s stock.

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.