Ellevest Inc. Invests $270,000 in Labcorp Holdings Inc. $LH

Ellevest Inc. bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,028 shares of the medical research company’s stock, valued at approximately $270,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LH. Vontobel Holding Ltd. increased its stake in Labcorp by 7.9% in the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after purchasing an additional 225 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Labcorp by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock valued at $3,507,000 after buying an additional 1,507 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after buying an additional 1,816 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in Labcorp by 11.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock worth $55,154,000 after acquiring an additional 22,018 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after acquiring an additional 43,509 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

Shares of LH stock opened at $245.96 on Friday. The stock’s 50-day moving average price is $274.80 and its 200 day moving average price is $261.87. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $20.39 billion, a PE ratio of 24.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.13 by $0.05. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate 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 last year, the business posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.2%. Labcorp’s dividend payout ratio is presently 28.29%.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 5,643 shares of the firm’s 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 sale, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the sale, the director directly owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,555 shares of company stock worth $4,347,040. 0.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LH has been the topic of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Morgan Stanley increased their price objective on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $295.54.

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.