IFP Advisors Inc Lowers Stock Holdings in Labcorp Holdings Inc. $LH

IFP Advisors Inc cut its stake in shares of Labcorp Holdings Inc. (NYSE:LHFree Report) by 24.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 264 shares of the medical research company’s stock after selling 85 shares during the quarter. IFP Advisors Inc’s holdings in Labcorp were worth $69,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC raised its position 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 in the last quarter. North Capital Inc. purchased a new position in shares of Labcorp during the first quarter valued at $27,000. TruNorth Capital Management LLC bought a new stake in shares of Labcorp in the first quarter valued at about $28,000. Larson Financial Group LLC raised its holdings in shares of 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Labcorp in the first quarter worth about $31,000. Institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. 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. Insiders own 0.84% of the company’s stock.

Labcorp Price Performance

Shares of LH opened at $291.34 on Tuesday. The company has a 50 day moving average of $277.66 and a two-hundred day moving average of $258.38. The company has a quick ratio of 1.32, a current ratio of 1.50 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 $291.78. The company has a market cap of $24.21 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89.

Labcorp (NYSE:LHGet Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts predict 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 will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

Analyst Ratings Changes

A number of research firms have commented on LH. Barclays raised their target price on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Hsbc Global Res downgraded shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Morgan Stanley lifted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday, October 14th. Finally, Mizuho increased their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.46.

View Our Latest Stock Report on Labcorp

Labcorp Profile

(Free Report)

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

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Institutional Ownership by Quarter for Labcorp (NYSE:LH)

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