NEOS Investment Management LLC Has $3.62 Million Position in Labcorp Holdings Inc. $LH

NEOS Investment Management LLC raised its stake in Labcorp Holdings Inc. (NYSE:LH) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 12,915 shares of the medical research company’s stock after buying an additional 1,621 shares during the period. NEOS Investment Management LLC’s holdings in Labcorp were worth $3,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in LH. Victory Capital Management Inc. lifted its holdings 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 acquiring an additional 2,719,475 shares during the period. Boston Partners bought a new position in Labcorp in the fourth quarter valued at about $480,271,000. Norges Bank acquired a new stake in Labcorp during the 4th quarter worth approximately $248,006,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Labcorp during the second quarter worth $168,222,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Labcorp in the 2nd quarter valued at about $142,125,000. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Amy Summy sold 924 shares of Labcorp stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares of the company’s stock, valued at $2,133,683.44. The trade was a 11.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kathryn Kyle sold 92 shares of Labcorp stock in a transaction 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 approximately $1,117,285.76. The trade was a 2.30% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 8,919 shares of company stock worth $2,826,593 over the last quarter. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.0%

LH stock opened at $326.83 on Monday. The firm has a market capitalization of $26.51 billion, a PE ratio of 27.03, a PEG ratio of 1.85 and a beta of 0.88. Labcorp Holdings Inc. has a twelve month low of $244.52 and a twelve month high of $341.80. The stock has a 50-day simple moving average of $306.88 and a two-hundred day simple moving average of $280.61. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 EPS for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the prior year, the firm earned $4.35 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, equities analysts predict that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Wall Street Analysts Forecast Growth

LH has been the topic of a number of analyst reports. Bank of America upped their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $306.00 price objective on shares of Labcorp in a report on Friday, July 31st. Morgan Stanley upped their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Truist Financial raised their price objective on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Robert W. Baird set a $352.00 target price on Labcorp in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus target price of $330.00.

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.