Cerity Partners LLC Has $21.64 Million Stock Holdings in Labcorp Holdings Inc. $LH

Cerity Partners LLC decreased its position in Labcorp Holdings Inc. (NYSE:LH) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 82,469 shares of the medical research company’s stock after selling 2,348 shares during the period. Cerity Partners LLC owned about 0.10% of Labcorp worth $21,639,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LH. Brighton Jones LLC acquired a new stake in Labcorp during the fourth quarter worth $991,000. Citigroup Inc. raised its position in Labcorp by 95.9% in the first quarter. Citigroup Inc. now owns 92,196 shares of the medical research company’s stock worth $21,458,000 after purchasing an additional 45,135 shares in the last quarter. National Bank of Canada FI lifted its stake in Labcorp by 0.5% during the first quarter. National Bank of Canada FI now owns 39,348 shares of the medical research company’s stock worth $9,158,000 after purchasing an additional 177 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Labcorp during the first quarter valued at approximately $43,000. Finally, Townsquare Capital LLC raised its holdings in shares of Labcorp by 8.8% in the 1st quarter. Townsquare Capital LLC now owns 4,785 shares of the medical research company’s stock worth $1,114,000 after buying an additional 389 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the sale, the director owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. The trade was a 6.16% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. UBS Group cut their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Robert W. Baird set a $304.00 price objective on shares of Labcorp in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, Barclays boosted their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $297.07.

Labcorp Stock Down 0.8%

NYSE:LH opened at $257.90 on Wednesday. The company has a market cap of $21.38 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 1.72 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55. The stock’s fifty day moving average price is $268.45 and its two-hundred day moving average price is $265.97. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a $0.72 dividend. 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 is currently 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.