California State Teachers Retirement System Purchases 34,882,320 Shares of Labcorp Holdings Inc. $LH

California State Teachers Retirement System lifted its position in Labcorp Holdings Inc. (NYSE:LH) by 28,952.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,002,800 shares of the medical research company’s stock after buying an additional 34,882,320 shares during the period. California State Teachers Retirement System owned approximately 0.43% of Labcorp worth $9,800,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new stake in Labcorp during the fourth quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in Labcorp in the third quarter worth about $28,000. DV Equities LLC purchased a new position in Labcorp in the fourth quarter worth about $29,000. Allied Private Wealth LLC bought a new stake in shares of Labcorp during the 2nd quarter valued at about $33,000. Finally, EFG International AG bought a new stake in shares of Labcorp during the 4th quarter valued at about $33,000. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of several recent research reports. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Bank of America boosted their target price on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Mizuho set a $355.00 target price on shares of Labcorp in a report on Monday, August 10th. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $306.00 price target on shares of Labcorp in a research note on Friday, July 31st. Nine research 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 company has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Stock Performance

Shares of LH opened at $324.95 on Wednesday. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. The business has a 50-day simple moving average of $308.74 and a two-hundred day simple moving average of $281.29. The stock has a market cap of $26.35 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 1.85 and a beta of 0.88. Labcorp Holdings Inc. has a 52 week low of $244.52 and a 52 week high of $341.80.

Labcorp (NYSE:LH) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The business’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

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

Insider Activity

In other news, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the completion of the transaction, the executive vice president owned 6,956 shares of the company’s stock, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,000 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the sale, the director owned 6,563 shares of the company’s stock, valued at $2,087,165.26. This represents a 31.37% decrease in their position. 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 sold 8,919 shares of company stock worth $2,826,593. 0.84% of the stock is currently owned by 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.