Lord, Abbett Reduces $12M in Labcorp Holdings Inc. ($LH)
Key Points
- Lord, Abbett changed its Labcorp Holdings Inc. ($LH) stake by 7.3% last quarter, cutting to 585,844 shares worth $155.41 million.
- Wall Street's consensus rating on $LH is Buy and an average price target of $310.12.
- $LH last traded around $265.27.
Lord, Abbett trimmed its position in Labcorp Holdings Inc. ($LH) by 7.3% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 585,844 shares of Labcorp Holdings Inc. after selling 46,418 shares during the quarter. Lord, Abbett's holdings in Labcorp Holdings Inc. were worth $155.41 million as of its most recent filing.
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About Labcorp Holdings Inc.
Labcorp Holdings Inc. provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, PAP tests, hemoglobin A1C, PSA, tests for sexually transmitted diseases, vitamin D testing, microbiology cultures and procedures, and alcohol and other substance abuse tests. It also provides specialty testing services comprising gene-based and esoteric testing; advanced tests target specific diseases; services related to anatomic pathology/oncology, cardiovascular disease, coagulation, diagnostic genetics, endocrinology, infectious disease, women's health, pharmacogenetics, parentage and donor testing, occupational testing services, medical drug monitoring services, chronic disease programs, and kidney stone prevention tests; and health and wellness services to employers and managed care organizations. In addition, the company offers digital pathology solutions, a pathology platforms that support the digitization, centralized review, and sharing of pathology slides; provider and payer digital platforms, an online applications for providers, MCOs, and ACOs; online and mobile applications that enable patients to check offerings, schedule PSC visits, check-in upon PSC arrival, complete documentation, access tests and test results, and manage their accounts; and Generative AI-enabled Test Selection, a generative AI-enabled tool. It serves clients, third party, medicare/medicaid, patients, pharmaceutical, biotechnology, medical device, diagnostic companies, and CROs. The company has a strategic collaboration with the Children's Hospital of Philadelphia to accelerate the discovery, development, and availability of pediatric diagnostics. It also has a collaboration with Alliance for Clinical Trials in Oncology to advance national clinical trial for patients diagnosed with colorectal cancer. The company was founded in 1995 and is headquartered in Burlington, North Carolina.
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