Labcorp Holdings Inc. (NYSE:LH) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,493 shares of the medical research company’s stock after purchasing an additional 51 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Labcorp were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Graney & King LLC purchased a new position in shares of Labcorp during the fourth quarter worth about $26,000. Golden State Wealth Management LLC lifted its position in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after acquiring an additional 52 shares during the period. Garde Capital Inc. purchased a new position in shares of Labcorp in the 1st quarter valued at approximately $36,000. Heck Capital Advisors LLC acquired a new position in shares of Labcorp in the fourth quarter valued at approximately $44,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Labcorp during the fourth quarter worth approximately $52,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LH has been the topic of several recent research reports. Barclays reissued a “cautious” rating on shares of Labcorp in a research note on Wednesday, June 25th. Truist Financial boosted their price target on shares of Labcorp from $274.00 to $290.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. Robert W. Baird lifted their price objective on Labcorp from $253.00 to $267.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their target price on Labcorp from $270.00 to $283.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.08.

Insider Buying and Selling

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the transaction, the executive vice president owned 2,244 shares of the company’s stock, valued at approximately $534,879.84. This trade represents a 45.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kerrii B. Anderson sold 500 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director directly owned 12,166 shares of the company’s stock, valued at approximately $3,223,990. This trade represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,834 shares of company stock valued at $2,928,714. 0.84% of the stock is owned by company insiders.

Labcorp Stock Performance

NYSE LH opened at $261.89 on Friday. The business has a 50 day moving average price of $251.44 and a 200 day moving average price of $241.92. The company has a market capitalization of $21.92 billion, a P/E ratio of 30.28, a PEG ratio of 1.65 and a beta of 0.82. Labcorp Holdings Inc. has a 1-year low of $198.96 and a 1-year high of $265.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.11. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The business had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.41 billion. During the same quarter last year, the business posted $3.68 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. Labcorp’s dividend payout ratio (DPR) is presently 33.29%.

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.