Labcorp Holdings Inc. (NYSE:LH) Shares Purchased by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. boosted its position in Labcorp Holdings Inc. (NYSE:LH) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,796 shares of the medical research company’s stock after purchasing an additional 1,283 shares during the period. Jefferies Financial Group Inc.’s holdings in Labcorp were worth $6,237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of LH. Brighton Jones LLC acquired a new stake in shares of Labcorp during the 4th quarter valued at approximately $991,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Labcorp by 18.2% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 4,416 shares of the medical research company’s stock valued at $1,013,000 after acquiring an additional 681 shares during the period. Franklin Resources Inc. lifted its position in shares of Labcorp by 7.8% during the 4th quarter. Franklin Resources Inc. now owns 22,452 shares of the medical research company’s stock valued at $5,149,000 after acquiring an additional 1,615 shares during the period. HighPoint Advisor Group LLC lifted its position in shares of Labcorp by 8.6% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,408 shares of the medical research company’s stock valued at $345,000 after acquiring an additional 112 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Labcorp by 301.5% during the 4th quarter. National Bank of Canada FI now owns 39,171 shares of the medical research company’s stock worth $8,983,000 after purchasing an additional 29,414 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Up 0.5%

LH stock opened at $261.34 on Friday. The stock has a market capitalization of $21.87 billion, a P/E ratio of 28.85, a PEG ratio of 1.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The company has a 50 day moving average price of $256.06 and a two-hundred day moving average price of $245.49.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the company earned $3.94 EPS. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio is presently 31.79%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. UBS Group raised their price objective on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Evercore ISI raised their price objective on shares of Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, July 25th. Barclays reissued a “cautious” rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Truist Financial raised their price objective on shares of Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a research note 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 company. According to data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and a consensus price target of $285.00.

Insider Activity at Labcorp

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares of the company’s stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian J. Caveney sold 2,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares of the company’s stock, valued at $7,426,549. This represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,605 shares of company stock valued at $3,784,897 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

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.