Arkadios Wealth Advisors Acquires 404 Shares of Labcorp Holdings Inc. $LH

Arkadios Wealth Advisors raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 19.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,504 shares of the medical research company’s stock after acquiring an additional 404 shares during the quarter. Arkadios Wealth Advisors’ holdings in Labcorp were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. World Investment Advisors bought a new stake in shares of Labcorp during the 2nd quarter valued at $315,000. Eubel Brady & Suttman Asset Management Inc. increased its position in shares of Labcorp by 1.3% during the second quarter. Eubel Brady & Suttman Asset Management Inc. now owns 71,726 shares of the medical research company’s stock valued at $18,829,000 after buying an additional 904 shares during the period. New York Life Investment Management LLC increased its position in shares of Labcorp by 0.8% during the second quarter. New York Life Investment Management LLC now owns 12,557 shares of the medical research company’s stock valued at $3,296,000 after buying an additional 94 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Labcorp by 0.8% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 12,507 shares of the medical research company’s stock valued at $3,283,000 after buying an additional 100 shares during the period. Finally, Rossby Financial LCC increased its holdings in Labcorp by 8.9% during the 2nd quarter. Rossby Financial LCC now owns 550 shares of the medical research company’s stock worth $144,000 after acquiring an additional 45 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the 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 transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,505,439.54. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the topic of a number of analyst reports. HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price 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. Robert W. Baird set a $304.00 target price on Labcorp in a research note on Wednesday, October 29th. UBS Group decreased their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Finally, Barclays upped their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Eleven 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 a consensus rating of “Moderate Buy” and an average price target of $295.54.

Labcorp Stock Up 1.8%

LH opened at $258.41 on Tuesday. The stock has a market cap of $21.47 billion, a PE ratio of 25.38, a P/E/G ratio of 1.59 and a beta of 0.89. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The business’s fifty day simple moving average is $276.47 and its 200 day simple moving average is $261.81.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, beating the consensus estimate of $4.13 by $0.05. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, research 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 declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

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.