Assetmark Inc. Buys 12,028 Shares of Labcorp Holdings Inc. $LH

Assetmark Inc. boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 20.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,279 shares of the medical research company’s stock after acquiring an additional 12,028 shares during the period. Assetmark Inc. owned approximately 0.08% of Labcorp worth $18,449,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp during the second quarter valued at approximately $25,000. Golden State Wealth Management LLC boosted its stake in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. bought a new stake in Labcorp in the 1st quarter valued at $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp in the 1st quarter valued at $28,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after acquiring an additional 73 shares during the period. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LH shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Evercore ISI upped their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Morgan Stanley boosted their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and an average target price of $295.54.

Insider Buying and Selling

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Performance

NYSE:LH opened at $254.23 on Friday. The stock has a market capitalization of $21.13 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The firm has a 50 day moving average of $276.83 and a 200-day moving average of $260.99.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The business’s revenue was up 8.6% on a year-over-year basis. During the same period last year, the firm posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s payout ratio is currently 28.29%.

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.