Ballentine Partners LLC Has $326,000 Position in Labcorp Holdings Inc. $LH

Ballentine Partners LLC boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,240 shares of the medical research company’s stock after buying an additional 96 shares during the quarter. Ballentine Partners LLC’s holdings in Labcorp were worth $326,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in LH. Golden State Wealth Management LLC increased its position in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. bought a new stake in shares of Labcorp during the first quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp in the first quarter valued at approximately $28,000. Larson Financial Group LLC boosted its stake in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Labcorp during the 1st quarter worth $31,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Stock Up 1.7%

Labcorp stock opened at $280.87 on Monday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The company has a fifty day simple moving average of $271.17 and a 200 day simple moving average of $253.20. The company has a market cap of $23.34 billion, a P/E ratio of 31.00, a price-to-earnings-growth ratio of 1.79 and a beta of 0.85.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the business posted $3.94 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts anticipate 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 was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp’s payout ratio is 31.79%.

Insiders Place Their Bets

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. The trade was a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock worth $4,207,192 in the last quarter. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LH shares. Robert W. Baird set a $311.00 price target on Labcorp in a research note on Monday, August 25th. UBS Group upped their target price on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Finally, Truist Financial boosted their target price on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and a consensus target price of $290.33.

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.