Osaic Holdings Inc. Raises Stock Holdings in Labcorp Holdings Inc. $LH

Osaic Holdings Inc. increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 13.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,620 shares of the medical research company’s stock after purchasing an additional 4,690 shares during the quarter. Osaic Holdings Inc.’s holdings in Labcorp were worth $10,025,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SP Asset Management LLC boosted its stake in shares of Labcorp by 0.3% during the 2nd quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock worth $3,722,000 after purchasing an additional 38 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted 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 grew its stake in Labcorp by 0.3% in the 2nd 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 raised its holdings in Labcorp by 21.9% in the 2nd quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 40 shares during the last quarter. Finally, Tempus Wealth Planning LLC lifted its stake in shares of Labcorp by 2.0% during the 2nd quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after purchasing an additional 45 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on LH. Mizuho lifted their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Truist Financial set a $320.00 price objective on shares of Labcorp in a report on Tuesday, October 14th. Evercore ISI boosted 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. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and a consensus target price of $299.08.

Labcorp Stock Down 0.0%

LH opened at $252.01 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The firm has a 50 day moving average price of $265.44 and a 200 day moving average price of $266.50. 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 company 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.

Labcorp (NYSE:LH) last released its quarterly earnings data 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. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. Labcorp’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors 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 was Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 28.29%.

Insider Activity

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

Labcorp 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.