Cinctive Capital Management LP Makes New $3.30 Million Investment in Labcorp Holdings Inc. $LH

Cinctive Capital Management LP purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the third quarter, Holdings Channel.com reports. The firm purchased 11,486 shares of the medical research company’s stock, valued at approximately $3,297,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LH. Caldwell Trust Co purchased a new stake in shares of Labcorp during the second quarter valued at $25,000. Financial Gravity Companies Inc. purchased a new position in Labcorp in the 2nd quarter worth $26,000. Motco acquired a new stake in Labcorp during the 3rd quarter worth about $32,000. Hantz Financial Services Inc. grew its stake in Labcorp by 48.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 40 shares during the last quarter. Finally, Headlands Technologies LLC grew its stake in Labcorp by 300.0% during the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LH. Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. upped their target price on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Piper Sandler increased their price target on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. Robert W. Baird raised their price target 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. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $304.82.

Insider Activity

In other Labcorp 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 completion of the transaction, the executive vice president owned 2,782 shares in the company, valued at approximately $807,948.44. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president directly owned 30,107 shares in the company, valued at approximately $8,619,935.17. The trade was a 4.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Performance

Shares of LH stock opened at $263.57 on Monday. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The stock has a market cap of $21.72 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 1.80 and a beta of 1.01. The business has a 50-day simple moving average of $272.59 and a 200-day simple moving average of $269.85.

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

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Friday, February 27th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, February 27th. Labcorp’s payout ratio is currently 27.53%.

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.