Signaturefd LLC Buys 171 Shares of Labcorp Holdings Inc. $LH

Signaturefd LLC boosted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 26.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 816 shares of the medical research company’s stock after buying an additional 171 shares during the period. Signaturefd LLC’s holdings in Labcorp were worth $214,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in Labcorp by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after buying an additional 1,721 shares during the period. Strs Ohio bought a new position in Labcorp in the 1st quarter worth approximately $23,639,000. Assenagon Asset Management S.A. increased its position in Labcorp by 3,009.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock worth $31,490,000 after buying an additional 116,100 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Labcorp in the 1st quarter worth approximately $2,639,000. Finally, Banyan Capital Management Inc. increased its position in Labcorp by 2.4% in the 2nd quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock worth $10,275,000 after buying an additional 923 shares during the period. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays lifted their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group lifted their price objective on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Finally, Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Nine investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $291.58.

Insiders Place Their Bets

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the transaction, the director owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was 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 approximately $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock worth $4,074,692 in the last three months. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.0%

Shares of NYSE LH opened at $279.02 on Friday. The stock has a market cap of $23.19 billion, a PE ratio of 30.80, a PEG ratio of 1.78 and a beta of 0.89. The business has a fifty day moving average of $273.46 and a two-hundred day moving average of $254.18. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50.

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. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is currently 31.79%.

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.