AlphaQuest LLC Has $83,000 Position in Labcorp Holdings Inc. $LH

AlphaQuest LLC lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 92.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 315 shares of the medical research company’s stock after selling 3,764 shares during the period. AlphaQuest LLC’s holdings in Labcorp were worth $83,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted 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 valued at $2,262,817,000 after purchasing an additional 71,464 shares in the last quarter. Select Equity Group L.P. boosted its stake in Labcorp by 39.1% in the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after buying an additional 624,099 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after acquiring an additional 43,509 shares during the last quarter. Nordea Investment Management AB raised its stake in Labcorp by 28.2% during the second quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after acquiring an additional 401,808 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after purchasing an additional 318,865 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. UBS Group cut their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays boosted their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Truist Financial set a $320.00 price target on Labcorp in a research note on Tuesday, October 14th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.54.

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 transaction of $1,505,439.54. Following the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 16,555 shares of company stock worth $4,347,040 over the last quarter. Company insiders own 0.84% of the company’s stock.

Labcorp Trading Down 0.6%

Shares of LH stock opened at $250.90 on Thursday. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market cap of $20.80 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 1.59 and a beta of 0.91. The stock has a 50-day moving average of $275.38 and a 200-day moving average of $261.98.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, beating the consensus estimate of $4.13 by $0.05. The business had revenue of $3.56 billion for 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 was up 8.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

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

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.