Janney Montgomery Scott LLC Sells 137 Shares of Labcorp Holdings Inc. $LH

Janney Montgomery Scott LLC lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,307 shares of the medical research company’s stock after selling 137 shares during the period. Janney Montgomery Scott LLC’s holdings in Labcorp were worth $8,481,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Labcorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock worth $2,262,817,000 after buying an additional 71,464 shares during the last quarter. Select Equity Group L.P. increased its holdings in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after buying an additional 624,099 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Labcorp by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company’s stock worth $455,370,000 after buying an additional 40,814 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after buying an additional 318,865 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock worth $295,950,000 after buying an additional 250,486 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Trading Down 1.0%

Shares of LH opened at $276.56 on Monday. The stock has a market capitalization of $22.98 billion, a P/E ratio of 30.52, a PEG ratio of 1.77 and a beta of 0.89. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The firm has a fifty day simple moving average of $273.70 and a two-hundred day simple moving average of $254.67. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $289.20.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.72 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s dividend payout ratio is 31.79%.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the company’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 transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 over the last quarter. Company insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. UBS Group upped their price objective 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. Evercore ISI upped their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and a consensus target price of $292.00.

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.