Mitsubishi UFJ Asset Management Co. Ltd. Purchases 10,359 Shares of Labcorp Holdings Inc. $LH

Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 168,590 shares of the medical research company’s stock after purchasing an additional 10,359 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Labcorp worth $48,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Independent Advisor Alliance increased its holdings in shares of Labcorp by 166.6% in the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock worth $3,477,000 after purchasing an additional 7,568 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Labcorp by 12.0% during the third quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock valued at $12,859,000 after buying an additional 4,800 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Labcorp by 224.1% in the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after buying an additional 684,153 shares in the last quarter. Franklin Resources Inc. increased its holdings in Labcorp by 3.1% in the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after buying an additional 1,043 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Labcorp by 13.8% in the 2nd quarter. Osaic Holdings Inc. now owns 38,620 shares of the medical research company’s stock worth $10,025,000 after buying an additional 4,690 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Labcorp in a report on Tuesday, February 17th. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. Robert W. Baird lifted their target price on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 18th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Piper Sandler lifted their price objective on Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday. Ten investment 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.com, Labcorp has a consensus rating of “Moderate Buy” and an average price target of $304.42.

Labcorp Price Performance

Shares of Labcorp stock opened at $288.92 on Friday. The stock has a market cap of $23.81 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.23 and a current ratio of 1.42. The stock’s fifty day moving average is $268.50 and its 200 day moving average is $270.01. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The business had revenue of $3.52 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $3.45 earnings per share. Labcorp’s revenue for the quarter was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is presently 27.53%.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 5,273 shares of Labcorp stock in a transaction on 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 owned 87,343 shares in the company, valued at approximately $24,838,602.34. The trade was a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian J. Caveney sold 1,500 shares of the company’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the completion of the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at $8,619,935.17. This represents a 4.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,860 shares of company stock valued at $1,954,267 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

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.