Amundi Sells 799,075 Shares of Labcorp Holdings Inc. $LH

Amundi reduced its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 74.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 274,307 shares of the medical research company’s stock after selling 799,075 shares during the quarter. Amundi owned approximately 0.33% of Labcorp worth $71,320,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. SP Asset Management LLC grew its stake in Labcorp by 0.3% in the 2nd quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock valued at $3,722,000 after buying an additional 38 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after acquiring an additional 40 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after acquiring an additional 40 shares during the period. Zions Bancorporation National Association UT grew its position in shares of Labcorp by 21.9% in the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 40 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its stake in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after purchasing an additional 45 shares during the period. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the topic of several research reports. Barclays upped their price target on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. Evercore ISI raised their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group lowered their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Stock Up 0.4%

Labcorp stock opened at $259.43 on Tuesday. The company has a market capitalization of $21.51 billion, a PE ratio of 25.48, a PEG ratio of 1.71 and a beta of 0.99. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72. The firm’s fifty day moving average is $269.03 and its 200 day moving average is $265.86. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59.

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, beating the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the firm posted $3.50 EPS. Labcorp’s revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts predict 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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 28.29%.

Insider Activity at Labcorp

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction that occurred on 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 directly owned 2,469 shares in the company, valued at $627,817.32. This represents a 73.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the company’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 completion of the transaction, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.84% of the company’s stock.

Labcorp Company Profile

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