Mondrian Investment Partners LTD Buys Shares of 261,994 Labcorp Holdings Inc. $LH

Mondrian Investment Partners LTD bought a new position in Labcorp Holdings Inc. (NYSE:LH) in the 3rd quarter, HoldingsChannel reports. The fund bought 261,994 shares of the medical research company’s stock, valued at approximately $75,208,000.

Several other hedge funds have also recently bought and sold shares of LH. Caldwell Trust Co acquired a new stake in Labcorp during the 2nd quarter worth about $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Labcorp during the second quarter worth approximately $26,000. Motco acquired a new stake in shares of Labcorp during the third quarter worth approximately $32,000. Headlands Technologies LLC grew its position in Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in Labcorp by 48.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after buying an additional 40 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In other news, EVP Jonathan C. Meltzer sold 87 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $290.42, for a total value of $25,266.54. Following the sale, the executive vice president owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. This represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,273 shares of Labcorp stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $284.38, for a total transaction of $1,499,535.74. Following the transaction, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at $24,838,602.34. This represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

NYSE:LH opened at $282.64 on Tuesday. The firm has a market capitalization of $23.43 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72. The firm has a 50-day moving average price of $264.06 and a 200 day moving average price of $268.81.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, February 27th. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. lifted their price objective on Labcorp from $317.00 to $319.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. UBS Group dropped their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Robert W. Baird set a $313.00 price target on shares of Labcorp in a research note on Wednesday, January 14th. Ten equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $300.75.

About Labcorp

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.