Caprock Group LLC Takes Position in Labcorp Holdings Inc. $LH

Caprock Group LLC bought a new stake in Labcorp Holdings Inc. (NYSE:LH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,757 shares of the medical research company’s stock, valued at approximately $1,045,000.

A number of other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC purchased a new stake in Labcorp during the 4th quarter valued at approximately $991,000. Integrated Wealth Concepts LLC raised its position in Labcorp by 7.9% during the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Labcorp by 52.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after acquiring an additional 121,304 shares during the period. MGO One Seven LLC purchased a new stake in shares of Labcorp in the second quarter valued at about $239,000. Finally, Ritholtz Wealth Management increased its stake in shares of Labcorp by 36.1% during the second quarter. Ritholtz Wealth Management now owns 2,338 shares of the medical research company’s stock worth $614,000 after acquiring an additional 620 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

Labcorp stock opened at $282.64 on Monday. 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 capitalization of $23.43 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 1.78 and a beta of 1.03. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The stock has a fifty day moving average of $263.59 and a two-hundred day moving average of $268.65.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s payout ratio is currently 28.29%.

Wall Street Analyst Weigh In

LH has been the topic of a number of analyst reports. Weiss Ratings raised Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. upped their price objective on Labcorp from $317.00 to $319.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Robert W. Baird set a $313.00 target price on Labcorp in a report on Wednesday, January 14th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, 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. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $300.75.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,273 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $284.38, for a total value of $1,499,535.74. Following the sale, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at approximately $24,838,602.34. This trade represents a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. This represents a 3.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by company insiders.

About Labcorp

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.