Vontobel Holding Ltd. Sells 2,177 Shares of Labcorp Holdings Inc. (NYSE:LH)

Vontobel Holding Ltd. decreased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 43.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,832 shares of the medical research company’s stock after selling 2,177 shares during the period. Vontobel Holding Ltd.’s holdings in Labcorp were worth $659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of LH. Wedmont Private Capital lifted its stake in shares of Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock valued at $204,000 after buying an additional 44 shares in the last quarter. Signaturefd LLC raised its position in shares of Labcorp by 9.7% during the 4th quarter. Signaturefd LLC now owns 588 shares of the medical research company’s stock valued at $135,000 after buying an additional 52 shares in the last quarter. Golden State Wealth Management LLC grew its holdings in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. Colonial Trust Co SC grew its holdings in Labcorp by 3.2% during the 4th quarter. Colonial Trust Co SC now owns 1,722 shares of the medical research company’s stock valued at $395,000 after purchasing an additional 53 shares during the last quarter. Finally, Grove Bank & Trust grew its holdings in Labcorp by 1.4% during the 1st quarter. Grove Bank & Trust now owns 3,935 shares of the medical research company’s stock valued at $916,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

LH opened at $261.89 on Monday. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 0.68. The company has a market cap of $21.92 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.66 and a beta of 0.82. Labcorp Holdings Inc. has a 52-week low of $198.96 and a 52-week high of $265.72. The firm’s fifty day simple moving average is $252.11 and its two-hundred day simple moving average is $242.35.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $3.68 earnings per share. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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

Insider Activity at Labcorp

In other Labcorp news, CAO Peter J. Wilkinson sold 829 shares of Labcorp 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 completion of the sale, the chief accounting officer directly owned 2,054 shares in the company, valued at $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the transaction, the executive vice president owned 30,067 shares of the company’s stock, valued at $7,426,549. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,834 shares of company stock valued at $2,928,714 over the last ninety days. Corporate insiders own 0.84% 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 upped their target price on shares of Labcorp from $253.00 to $267.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 30th. Redburn Atlantic started coverage on shares of Labcorp in a research report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price for the company. Barclays reaffirmed a “cautious” rating on shares of Labcorp in a report on Wednesday, June 25th. Morgan Stanley increased 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. Finally, Piper Sandler reiterated a “neutral” rating and issued a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $276.08.

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.