Levin Capital Strategies L.P. Acquires New Stake in Labcorp Holdings Inc. $LH

Levin Capital Strategies L.P. bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 21,013 shares of the medical research company’s stock, valued at approximately $5,607,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Labcorp in the 4th quarter worth $991,000. Integrated Wealth Concepts LLC boosted its stake in Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after buying an additional 177 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after buying an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Labcorp during the second quarter worth about $5,873,000. Finally, First Trust Advisors LP raised its position in Labcorp by 83.2% in the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after acquiring an additional 39,087 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LH has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Robert W. Baird lifted their price objective on shares of Labcorp from $335.00 to $338.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Bank of America boosted their target price on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Finally, Evercore restated an “outperform” rating and set a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $314.40.

Insiders Place Their Bets

In related news, EVP Bryan T. Vaughn sold 234 shares of the company’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president owned 6,746 shares in the company, valued at approximately $1,930,637.74. This represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,991 shares of company stock worth $1,796,696 over the last ninety days. 0.84% of the stock is currently owned by company insiders.

Labcorp Stock Up 0.9%

Shares of Labcorp stock opened at $281.85 on Thursday. Labcorp Holdings Inc. has a 12-month low of $244.52 and a 12-month high of $293.72. The firm has a market capitalization of $23.11 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 1.85 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The stock’s fifty day moving average is $267.72 and its 200-day moving average is $268.63.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.Labcorp’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio is currently 25.51%.

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.