Labcorp Holdings Inc. $LH Shares Sold by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.8% during the second quarter, HoldingsChannel reports. The fund owned 100,293 shares of the medical research company’s stock after selling 2,924 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Labcorp were worth $28,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its stake in shares of Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after buying an additional 2,719,475 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Labcorp by 1.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,226,446 shares of the medical research company’s stock valued at $607,241,000 after buying an additional 22,170 shares in the last quarter. Geode Capital Management LLC grew its holdings in Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after acquiring an additional 13,775 shares during the period. Wellington Management Group LLP grew its holdings in 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 acquiring an additional 289,029 shares during the period. Finally, Boston Partners purchased a new position in Labcorp in the fourth quarter worth $480,271,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the transaction, the executive vice president directly owned 3,904 shares in the company, valued at $1,117,285.76. The trade was a 2.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 Amy B. Summy sold 924 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the completion of the sale, the executive vice president directly owned 6,956 shares in the company, valued at approximately $2,133,683.44. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,681 shares of company stock valued at $3,027,677. Corporate insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on LH. Barclays boosted their target price on shares of Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 30th. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Mizuho set a $355.00 price objective on shares of Labcorp in a report on Monday, August 10th. JPMorgan Chase & Co. upped their target price on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Stock Down 0.4%

LH opened at $333.61 on Tuesday. The business’s fifty day moving average is $301.79 and its two-hundred day moving average is $279.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The company has a market cap of $27.06 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.94 and a beta of 0.87. Labcorp Holdings Inc. has a one year low of $244.52 and a one year high of $341.80.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the business posted $4.35 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Analysts anticipate that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio is 23.82%.

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.