Vontobel Holding Ltd. Raises Stake in Labcorp Holdings Inc. $LH

Vontobel Holding Ltd. grew its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 7.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,057 shares of the medical research company’s stock after buying an additional 225 shares during the quarter. Vontobel Holding Ltd.’s holdings in Labcorp were worth $802,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its position in shares of 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 buying an additional 52 shares during the period. North Capital Inc. purchased a new position in Labcorp in the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC purchased a new position in Labcorp in the 1st quarter worth approximately $28,000. Larson Financial Group LLC boosted its holdings in Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after acquiring an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Labcorp in the first quarter valued at $31,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director owned 8,666 shares in the company, valued at $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction dated 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 owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% 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 over the last three months. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the subject of a number of analyst reports. UBS Group increased their price target on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Evercore ISI increased their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Finally, Truist Financial increased their price objective on shares of Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Labcorp has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Stock Performance

LH opened at $276.37 on Tuesday. The business’s 50 day moving average is $275.56 and its 200-day moving average is $256.53. The stock has a market cap of $22.97 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. 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 twelve month low of $209.38 and a twelve month high of $289.20.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating 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 business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the business earned $3.94 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is currently 31.79%.

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.