Labcorp Holdings Inc. (NYSE:LH) Shares Acquired by Foster & Motley Inc.

Foster & Motley Inc. raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,280 shares of the medical research company’s stock after buying an additional 140 shares during the period. Foster & Motley Inc.’s holdings in Labcorp were worth $1,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. Golden State Wealth Management LLC increased its stake in shares of Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after acquiring an additional 52 shares during the period. North Capital Inc. acquired a new stake in Labcorp in the first quarter worth approximately $27,000. TruNorth Capital Management LLC bought a new position in Labcorp during the 1st quarter valued at $28,000. Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. bought a new stake in shares of Labcorp in the 1st quarter worth $31,000. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the sale, the executive vice president owned 30,067 shares of the company’s stock, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,605 shares of company stock worth $3,254,997 in the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Performance

Shares of Labcorp stock opened at $264.02 on Thursday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The stock has a market cap of $22.10 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82. The business has a fifty day simple moving average of $255.33 and a 200-day simple moving average of $245.13.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $3.94 EPS. On average, sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.09%. Labcorp’s dividend payout ratio is presently 31.79%.

Wall Street Analysts Forecast Growth

LH has been the subject of several research reports. HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Redburn Atlantic assumed coverage on shares of Labcorp in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 target price on the stock. Morgan Stanley lifted their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, UBS Group lifted their target price on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.00.

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.