Venturi Wealth Management LLC Trims Stock Position in Labcorp Holdings Inc. $LH

Venturi Wealth Management LLC cut its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 6.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,503 shares of the medical research company’s stock after selling 171 shares during the quarter. Venturi Wealth Management LLC’s holdings in Labcorp were worth $657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC raised its holdings in shares of Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. purchased a new position in shares of Labcorp in the 1st quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in shares of Labcorp in the 1st quarter worth about $28,000. Larson Financial Group LLC raised its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Labcorp in the 1st quarter worth about $31,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. UBS Group raised their price objective on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Morgan Stanley increased their target price on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Truist Financial increased their target price on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Price Performance

Shares of NYSE LH opened at $277.60 on Friday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $289.20. The business has a 50 day moving average price of $274.97 and a two-hundred day moving average price of $255.57. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The firm has a market cap of $23.07 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89.

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

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is 31.79%.

Insider Transactions at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock worth $4,074,692 in the last quarter. Insiders own 0.84% of the company’s stock.

About Labcorp

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