ASR Vermogensbeheer N.V. Acquires 592 Shares of Labcorp Holdings Inc. $LH

ASR Vermogensbeheer N.V. raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 21.2% during the second quarter, HoldingsChannel reports. The fund owned 3,384 shares of the medical research company’s stock after purchasing an additional 592 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Labcorp were worth $888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. NewEdge Advisors LLC increased its holdings in shares of Labcorp by 25.2% in the first quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after purchasing an additional 1,721 shares during the period. Strs Ohio bought a new position in shares of Labcorp in the first quarter worth $23,639,000. Assenagon Asset Management S.A. increased its holdings in shares of Labcorp by 3,009.3% in the second quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock worth $31,490,000 after purchasing an additional 116,100 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Labcorp in the first quarter worth $2,639,000. Finally, Banyan Capital Management Inc. increased its holdings in shares of Labcorp by 2.4% in the second quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock worth $10,275,000 after purchasing an additional 923 shares during the period. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

NYSE LH opened at $276.56 on Friday. The company has a 50-day simple moving average of $273.70 and a two-hundred day simple moving average of $254.54. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $289.20. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.77 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the business posted $3.94 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s dividend payout ratio is presently 31.79%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on LH. HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Morgan Stanley upped their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Finally, Barclays upped their target price on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $292.00.

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,046 shares of company stock valued at $4,074,692. Corporate insiders own 0.84% of the company’s stock.

Labcorp Profile

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