Labcorp Holdings Inc. $LH Shares Sold by Cerity Partners LLC

Cerity Partners LLC decreased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,384 shares of the medical research company’s stock after selling 4,085 shares during the quarter. Cerity Partners LLC owned 0.09% of Labcorp worth $22,498,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LH. Vanguard Group Inc. grew its position in shares of Labcorp by 1.6% in the second quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock valued at $2,593,395,000 after purchasing an additional 156,717 shares during the last quarter. State Street Corp grew its holdings in Labcorp by 0.9% in the second quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock valued at $1,014,086,000 after purchasing an additional 36,003 shares during the period. Geode Capital Management LLC raised its stake in Labcorp by 2.2% during the second quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock worth $552,445,000 after purchasing an additional 44,630 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Labcorp by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after purchasing an additional 43,509 shares during the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock valued at $476,995,000 after purchasing an additional 401,808 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Down 1.1%

Shares of Labcorp stock opened at $251.81 on Friday. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a market capitalization of $20.88 billion, a PE ratio of 24.74, a P/E/G ratio of 1.60 and a beta of 1.00. 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 business has a 50-day moving average of $259.11 and a 200-day moving average of $265.88.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the business posted $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. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the transaction, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. The trade was a 6.16% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Barclays upped their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Mizuho raised their price objective on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. lifted their price objective on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Robert W. Baird set a $304.00 target price on shares of Labcorp in a research report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 price target on shares of Labcorp in a research report on Tuesday, October 14th. Ten equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $299.08.

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.