Labcorp Holdings Inc. $LH Shares Sold by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. trimmed its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 93,448 shares of the medical research company’s stock after selling 2,394 shares during the period. Burgundy Asset Management Ltd.’s holdings in Labcorp were worth $25,978,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Labcorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock valued at $2,593,395,000 after acquiring an additional 156,717 shares in the last quarter. State Street Corp increased its holdings in shares of Labcorp by 0.9% in the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock valued at $1,014,086,000 after buying an additional 36,003 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Labcorp by 20.0% during the third quarter. Victory Capital Management Inc. now owns 2,637,350 shares of the medical research company’s stock valued at $756,878,000 after purchasing an additional 440,224 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Labcorp by 2.2% in the second quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock worth $552,445,000 after buying an additional 44,630 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Labcorp by 3.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,303,307 shares of the medical research company’s stock worth $342,131,000 after purchasing an additional 43,661 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Trading Down 0.8%

LH opened at $280.85 on Thursday. The company has a current ratio of 1.42, a quick ratio of 1.23 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $23.14 billion, a PE ratio of 26.85, a PEG ratio of 1.93 and a beta of 1.01. The firm has a 50-day moving average price of $270.25 and a two-hundred day moving average price of $270.26. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

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

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be paid 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 yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is presently 27.53%.

Insider Buying and Selling

In related news, EVP Brian J. Caveney sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 5,273 shares of the company’s 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 completion of the sale, the chief executive officer owned 87,343 shares of the company’s stock, valued at approximately $24,838,602.34. This represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,408 shares of company stock valued at $2,110,398 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LH. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Robert W. Baird raised their price objective on Labcorp from $313.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, February 18th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Finally, Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus 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.