Labcorp Holdings Inc. $LH Holdings Lowered by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its stake in Labcorp Holdings Inc. (NYSE:LH) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,210 shares of the medical research company’s stock after selling 2,595 shares during the period. Bartlett & CO. Wealth Management LLC owned approximately 0.25% of Labcorp worth $59,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in LH. Harbor Asset Planning Inc. bought a new position in Labcorp during the 2nd quarter valued at $25,000. Caldwell Trust Co acquired a new stake in shares of Labcorp in the second quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new stake in shares of Labcorp in the second quarter valued at $26,000. Headlands Technologies LLC boosted its stake in Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Labcorp by 392.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock worth $36,000 after acquiring an additional 110 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Transactions at Labcorp

In other news, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the business’s 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 completion of the sale, the chief executive officer directly owned 87,574 shares in the company, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.0%

Shares of LH stock opened at $252.01 on Friday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $20.89 billion, a PE ratio of 24.76, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The stock has a 50 day moving average of $265.44 and a 200-day moving average of $266.39.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the firm posted $3.50 earnings per share. 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. On average, equities analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, November 26th. Labcorp’s payout ratio is 28.29%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Mizuho lifted 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. Robert W. Baird set a $304.00 price target on shares of Labcorp in a report on Wednesday, October 29th. Barclays raised their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $299.08.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.