Labcorp Holdings Inc. $LH Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lessened its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 10.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,363 shares of the medical research company’s stock after selling 7,248 shares during the quarter. Brown Advisory Inc. owned about 0.08% of Labcorp worth $16,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Labcorp by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after buying an additional 11,262 shares during the period. Franklin Resources Inc. boosted its position in Labcorp by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after acquiring an additional 1,043 shares during the period. Aberdeen Group plc grew its stake in Labcorp by 5.1% during the 2nd quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock valued at $19,589,000 after acquiring an additional 3,599 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Labcorp by 8.2% in the 2nd quarter. DNB Asset Management AS now owns 38,135 shares of the medical research company’s stock valued at $10,011,000 after purchasing an additional 2,884 shares during the period. Finally, Vontobel Holding Ltd. lifted its position in shares of Labcorp by 7.9% in the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after purchasing an additional 225 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Trading Down 1.2%

Labcorp stock opened at $258.30 on Monday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72. The company’s fifty day moving average price is $269.49 and its two-hundred day moving average price is $265.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.71 and a beta of 0.99.

Labcorp (NYSE:LH) last released 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 company had revenue of $3.56 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Analyst Upgrades and Downgrades

LH has been the topic of a number of research analyst reports. Barclays boosted their price objective 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. Robert W. Baird set a $304.00 price target on shares of Labcorp in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Mizuho upped their target price 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 reiterated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Labcorp presently has an average rating of “Moderate Buy” and a consensus price target of $297.07.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. This trade represents a 6.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the transaction, the director directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This represents a 73.95% 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.

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.