777 Shares in Labcorp Holdings Inc. $LH Bought by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC bought a new position in Labcorp Holdings Inc. (NYSE:LH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 777 shares of the medical research company’s stock, valued at approximately $204,000.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC grew its holdings 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 buying an additional 52 shares in the last quarter. North Capital Inc. purchased a new position in shares of Labcorp during the first quarter valued at $27,000. TruNorth Capital Management LLC purchased a new position in shares of Labcorp during the first quarter valued at $28,000. Larson Financial Group LLC grew its holdings in shares of Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Labcorp during the first quarter valued at $31,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president directly owned 2,274 shares of the company’s stock, valued at $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,046 shares of company stock worth $4,074,692 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Price Performance

Shares of NYSE:LH opened at $276.56 on Friday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $289.20. The business has a 50-day moving average of $273.70 and a two-hundred day moving average of $254.43. The stock has a market capitalization of $22.98 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the previous year, the firm earned $3.94 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s payout ratio is currently 31.79%.

Analysts Set New Price Targets

LH has been the topic of a number of research analyst reports. Robert W. Baird set a $311.00 price target on Labcorp in a report on Monday, August 25th. Barclays lifted their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research report on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Saturday, September 27th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.00.

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.