Mitsubishi UFJ Asset Management Co. Ltd. Has $41.54 Million Stock Holdings in Labcorp Holdings Inc. $LH

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Labcorp Holdings Inc. (NYSE:LH) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,231 shares of the medical research company’s stock after purchasing an additional 11,262 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.19% of Labcorp worth $41,537,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in LH. Select Equity Group L.P. grew its position in shares of Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after buying an additional 624,099 shares during the period. Nordea Investment Management AB boosted its stake in Labcorp by 28.2% in the second quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock valued at $476,995,000 after acquiring an additional 401,808 shares during the last quarter. Invesco Ltd. grew its holdings in Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after acquiring an additional 318,865 shares during the period. Lord Abbett & CO. LLC raised its position in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock valued at $181,819,000 after acquiring an additional 280,011 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Labcorp by 24.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after acquiring an additional 250,486 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the sale, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. The trade was a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the transaction, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on LH shares. Barclays lifted their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Robert W. Baird set a $304.00 target price on Labcorp in a research report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Evercore ISI boosted their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $297.07.

Labcorp Stock Performance

Shares of LH stock opened at $261.95 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company’s 50 day moving average price is $273.97 and its two-hundred day moving average price is $262.94. The company has a market capitalization of $21.72 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter in the prior year, the company earned $3.50 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 28.29%.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.