Labcorp Holdings Inc. $LH Stock: Fragasso Financial Advisors Inc Decreases Position

Fragasso Financial Advisors Inc reduced its position in Labcorp Holdings Inc. (NYSE:LH) by 35.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,546 shares of the medical research company’s stock after selling 2,501 shares during the period. Fragasso Financial Advisors Inc’s holdings in Labcorp were worth $1,419,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of LH. Allied Private Wealth LLC bought a new stake in shares of Labcorp during the 2nd quarter valued at about $33,000. Cedar Mountain Advisors LLC lifted its position in Labcorp by 786.7% in the first quarter. Cedar Mountain Advisors LLC now owns 133 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 118 shares during the last quarter. SHP Wealth Management bought a new position in shares of Labcorp in the fourth quarter worth approximately $40,000. Jones Financial Companies Lllp purchased a new position in shares of Labcorp in the second quarter worth $58,000. Finally, Steph & Co. purchased a new stake in Labcorp during the 1st quarter valued at $64,000. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. raised 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. Piper Sandler lifted their target price on shares of Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Robert W. Baird set a $352.00 target price on Labcorp in a report on Friday, July 31st. Truist Financial increased their price objective on shares of Labcorp from $350.00 to $365.00 and gave the stock a “buy” rating in a research note on Monday, September 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $337.73.

Labcorp Price Performance

Shares of NYSE:LH traded up $0.05 during mid-day trading on Tuesday, reaching $315.57. The stock had a trading volume of 104,148 shares, compared to its average volume of 690,071. The business’s 50 day moving average price is $320.37 and its 200 day moving average price is $287.78. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $341.80. The company has a market cap of $25.59 billion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69.

Labcorp (NYSE:LH) last posted its 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. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Research analysts expect that Labcorp Holdings Inc. will post 18.32 EPS for the current fiscal year.

Insider Transactions at Labcorp

In other news, EVP Amy Summy sold 924 shares of the firm’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 transaction of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares of the company’s stock, valued at approximately $2,133,683.44. This trade represents a 11.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii Anderson sold 3,000 shares of Labcorp stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the completion of the sale, the director owned 6,563 shares of the company’s stock, valued at $2,087,165.26. The trade was a 31.37% 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. Over the last ninety days, insiders have sold 8,593 shares of company stock worth $2,733,295. Insiders own 0.84% of the company’s stock.

Labcorp Company Profile

Labcorp (NYSE:LH), formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women’s health, infectious diseases, genetics and genomics.