World Investment Advisors Takes Position in Labcorp Holdings Inc. $LH

World Investment Advisors purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,201 shares of the medical research company’s stock, valued at approximately $315,000.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Labcorp in the 4th quarter worth approximately $991,000. Principal Financial Group Inc. increased its position in Labcorp by 0.4% during the first quarter. Principal Financial Group Inc. now owns 95,004 shares of the medical research company’s stock valued at $22,111,000 after acquiring an additional 422 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in Labcorp in the first quarter valued at about $434,000. TD Private Client Wealth LLC boosted its position in Labcorp by 8.2% in the first quarter. TD Private Client Wealth LLC now owns 5,011 shares of the medical research company’s stock worth $1,166,000 after purchasing an additional 379 shares during the last quarter. Finally, Highview Capital Management LLC DE bought a new stake in shares of Labcorp during the 1st quarter valued at about $1,416,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions at Labcorp

In other news, 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 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 approximately $24,895,642.82. The trade was 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 business’s stock in a transaction 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 transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 16,555 shares of company stock worth $4,347,040. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research reports. Truist Financial set a $320.00 target price on shares of Labcorp in a report on Tuesday, October 14th. UBS Group reduced their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Mizuho upped their price target on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $295.54.

Labcorp Stock Performance

NYSE:LH opened at $252.55 on Wednesday. The stock has a market capitalization of $20.99 billion, a P/E ratio of 24.81, a P/E/G ratio of 1.59 and a beta of 0.89. The stock has a 50-day moving average price of $275.96 and a 200 day moving average price of $262.06. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating the consensus estimate of $4.13 by $0.05. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s payout ratio is 28.29%.

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.