Insight Inv LLC Decreases Stock Holdings in Labcorp Holdings Inc. $LH

Insight Inv LLC lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,931 shares of the medical research company’s stock after selling 115 shares during the period. Insight Inv LLC’s holdings in Labcorp were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its holdings in shares of Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Labcorp in the first quarter valued at about $27,000. TruNorth Capital Management LLC purchased a new stake in shares of Labcorp in the first quarter valued at about $28,000. Larson Financial Group LLC lifted its holdings in shares of Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Labcorp in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LH. UBS Group upped their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Evercore ISI upped their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $292.00.

Insider Buying and Selling at Labcorp

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the sale, the executive vice president directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,046 shares of company stock worth $4,074,692 over the last three months. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Performance

Shares of LH stock opened at $277.46 on Thursday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The company has a 50 day moving average price of $274.61 and a 200 day moving average price of $255.28. The firm has a market capitalization of $23.06 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping 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 firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the prior year, the business posted $3.94 earnings per share. Labcorp’s revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s payout ratio is currently 31.79%.

Labcorp Company Profile

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