Boston Family Office LLC Acquires New Holdings in Labcorp Holdings Inc. $LH

Boston Family Office LLC bought a new position in Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 850 shares of the medical research company’s stock, valued at approximately $223,000.

Other hedge funds also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in Labcorp in the second quarter worth $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Labcorp in the second quarter worth about $26,000. Atlantic Private Wealth LLC bought a new stake in shares of Labcorp during the 1st quarter worth about $36,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Labcorp by 392.9% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 110 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Labcorp in the 1st quarter valued at approximately $43,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Price Performance

NYSE:LH opened at $267.76 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The company has a 50-day moving average of $270.80 and a 200-day moving average of $265.31. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.59 and a beta of 0.91.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.13 by $0.05. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter 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. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors 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 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Insider Activity

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the business’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 transaction, the director directly owned 2,469 shares in the company, valued at $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the sale, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. The trade was a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent analyst reports. Robert W. Baird set a $304.00 target price on Labcorp in a research report on Wednesday, October 29th. Truist Financial set a $320.00 price objective on shares of Labcorp in a report on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Finally, Barclays raised their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $297.07.

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.