SEB Asset Management AB Acquires Shares of 16,756 Labcorp Holdings Inc. $LH

SEB Asset Management AB bought a new position in Labcorp Holdings Inc. (NYSE:LH) during the first quarter, Holdings Channel reports. The firm bought 16,756 shares of the medical research company’s stock, valued at approximately $4,471,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Labcorp in the 4th quarter worth approximately $991,000. Integrated Wealth Concepts LLC grew its stake in shares of Labcorp by 7.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after purchasing an additional 177 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Labcorp by 52.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after purchasing an additional 121,304 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in shares of Labcorp in the 2nd quarter valued at $5,873,000. Finally, First Trust Advisors LP lifted its stake in shares of Labcorp by 83.2% in the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock valued at $22,588,000 after purchasing an additional 39,087 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Price Performance

Labcorp stock opened at $281.85 on Thursday. The stock has a market capitalization of $23.11 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.85 and a beta of 0.89. The company’s fifty day moving average price is $267.72 and its 200 day moving average price is $268.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $293.72.

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 analysts’ consensus estimates of $4.09 by $0.16. The company had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 18 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.72 dividend. 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 (DPR) is currently 25.51%.

Analysts Set New Price Targets

Several research firms recently commented on LH. Bank of America raised their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Evercore reiterated an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Robert W. Baird raised their target price on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.40.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is owned by corporate insiders.

Labcorp Profile

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.