Labcorp Holdings Inc. $LH Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc lessened its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.4% in the second quarter, HoldingsChannel.com reports. The firm owned 73,567 shares of the medical research company’s stock after selling 1,068 shares during the period. Labcorp accounts for approximately 1.7% of Stack Financial Management Inc’s investment portfolio, making the stock its 25th biggest holding. Stack Financial Management Inc’s holdings in Labcorp were worth $19,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. NewEdge Advisors LLC boosted its holdings in shares of Labcorp by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock valued at $1,989,000 after buying an additional 1,721 shares during the period. Strs Ohio acquired a new position in Labcorp in the first quarter valued at approximately $23,639,000. Assenagon Asset Management S.A. grew its holdings in shares of Labcorp by 3,009.3% during the second quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock valued at $31,490,000 after purchasing an additional 116,100 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Labcorp during the 1st quarter worth approximately $2,639,000. Finally, Banyan Capital Management Inc. lifted its holdings in shares of Labcorp by 2.4% in the 2nd 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 last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Evercore ISI increased their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Morgan Stanley lifted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. UBS Group lifted their price target on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus price target of $292.00.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. This 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 this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the firm’s 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 transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This trade represents a 5.70% 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 valued at $4,074,692 in the last ninety days. 0.84% of the stock is owned by insiders.

Labcorp Trading Up 0.1%

Labcorp stock opened at $277.96 on Monday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $289.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market capitalization of $23.10 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. The firm has a 50 day simple moving average of $275.30 and a 200-day simple moving average of $256.20.

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

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued 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 of this dividend is Wednesday, November 26th. Labcorp’s payout ratio is presently 31.79%.

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.