Mitsubishi UFJ Asset Management Co. Ltd. Has $44.63 Million Stock Position in Labcorp Holdings Inc. $LH

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Labcorp Holdings Inc. (NYSE:LH) by 5.2% in the 4th quarter, HoldingsChannel reports. The fund owned 177,338 shares of the medical research company’s stock after acquiring an additional 8,748 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Labcorp were worth $44,629,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Labcorp in the 4th quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in Labcorp in the 3rd quarter valued at approximately $28,000. Eagle Bay Advisors LLC acquired a new position in Labcorp in the 4th quarter valued at approximately $29,000. Beacon Financial Strategies CORP acquired a new position in Labcorp in the 4th quarter valued at approximately $33,000. Finally, Headlands Technologies LLC increased its position in Labcorp by 300.0% in the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after acquiring an additional 96 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 8,705 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $279.96, for a total value of $2,437,051.80. Following the transaction, the chief executive officer directly owned 80,773 shares of the company’s stock, valued at approximately $22,613,209.08. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the transaction, the executive vice president directly owned 2,579 shares in the company, valued at $734,782.89. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,113 shares of company stock valued at $4,547,450 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LH. Piper Sandler upped their price target on shares of Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research report on Friday, May 1st. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $308.00.

Labcorp Trading Down 1.6%

LH opened at $253.99 on Friday. Labcorp Holdings Inc. has a twelve month low of $239.67 and a twelve month high of $293.72. 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 company has a fifty day moving average of $269.03 and a 200-day moving average of $266.77. The stock has a market cap of $20.83 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the company posted $3.84 earnings per share. Labcorp’s revenue for the quarter was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 17.99 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, May 29th. Labcorp’s dividend payout ratio (DPR) is 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.