Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,858 shares of the medical research company’s stock after selling 85 shares during the period. Assenagon Asset Management S.A.’s holdings in Labcorp were worth $898,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Graney & King LLC bought a new position in Labcorp during the 4th quarter valued at $26,000. Heck Capital Advisors LLC bought a new stake in shares of Labcorp in the 4th quarter worth approximately $44,000. SBI Securities Co. Ltd. bought a new stake in shares of Labcorp in the 4th quarter worth approximately $52,000. Deseret Mutual Benefit Administrators increased its position in shares of Labcorp by 28.2% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company’s stock worth $53,000 after acquiring an additional 51 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Labcorp in the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Labcorp from $253.00 to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on shares of Labcorp from $270.00 to $283.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Truist Financial boosted their price objective on shares of Labcorp from $274.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Barclays upped their target price on shares of Labcorp from $240.00 to $250.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, Citigroup upgraded shares of Labcorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.00.

Insiders Place Their Bets

In other Labcorp news, CAO Peter J. Wilkinson sold 829 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the sale, the chief accounting officer now directly owns 2,054 shares in the company, valued at $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the sale, the executive vice president now owns 5,302 shares in the company, valued at $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,092 shares of company stock valued at $2,971,820. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Up 0.8%

Shares of NYSE LH opened at $261.56 on Thursday. The stock has a market cap of $21.89 billion, a P/E ratio of 30.24, a P/E/G ratio of 1.64 and a beta of 0.81. The firm has a 50 day moving average price of $242.69 and a 200 day moving average price of $239.91. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84. Labcorp Holdings Inc. has a 52-week low of $198.96 and a 52-week high of $264.03.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.68 EPS. Analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.10%. Labcorp’s dividend payout ratio (DPR) is currently 33.29%.

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.