Elo Mutual Pension Insurance Co Makes New $3.58 Million Investment in Labcorp Holdings Inc. $LH

Elo Mutual Pension Insurance Co purchased a new stake in Labcorp Holdings Inc. (NYSE:LH) during the 3rd quarter, Holdings Channel reports. The firm purchased 12,458 shares of the medical research company’s stock, valued at approximately $3,576,000.

Several other institutional investors have also recently modified their holdings of LH. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after buying an additional 11,262 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Labcorp by 12.0% during the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after acquiring an additional 4,800 shares during the last quarter. Independent Advisor Alliance raised its holdings in shares of Labcorp by 166.6% during the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock valued at $3,477,000 after buying an additional 7,568 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Labcorp by 224.1% in the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after purchasing an additional 684,153 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake 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 purchasing an additional 1,043 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 548 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $284.91, for a total value of $156,130.68. Following the transaction, the executive vice president directly owned 2,579 shares in the company, valued at $734,782.89. This represents a 17.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian J. Caveney sold 1,500 shares of Labcorp stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $286.31, for a total value of $429,465.00. Following the completion of the sale, the executive vice president owned 30,107 shares of the company’s stock, valued at $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. In the last quarter, insiders sold 7,408 shares of company stock worth $2,110,398. 0.84% of the stock is owned by company insiders.

Labcorp Stock Performance

NYSE LH opened at $283.15 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The business has a 50-day moving average price of $269.72 and a 200-day moving average price of $270.19. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 1.96 and a beta of 1.01.

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

Labcorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on LH shares. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Piper Sandler lifted their target price on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. upped their price target on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Finally, Wall Street Zen upgraded 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 assigned a Hold rating to the company. According to data from MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $304.82.

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.