Labcorp Holdings Inc. $LH Shares Acquired by Boyar Asset Management Inc.

Boyar Asset Management Inc. increased its position in Labcorp Holdings Inc. (NYSE:LH) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,993 shares of the medical research company’s stock after buying an additional 108 shares during the quarter. Boyar Asset Management Inc.’s holdings in Labcorp were worth $1,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of LH. Brighton Jones LLC acquired a new stake in shares of Labcorp during the fourth quarter worth $991,000. NBC Securities Inc. purchased a new position in Labcorp in the first quarter valued at about $130,000. Merit Financial Group LLC grew its stake in Labcorp by 23.0% in the first quarter. Merit Financial Group LLC now owns 3,414 shares of the medical research company’s stock valued at $795,000 after purchasing an additional 639 shares in the last quarter. Procyon Advisors LLC purchased a new position in Labcorp in the first quarter valued at about $204,000. Finally, WealthBridge Investment Counsel Inc. grew its stake in Labcorp by 0.5% in the first quarter. WealthBridge Investment Counsel Inc. now owns 34,201 shares of the medical research company’s stock valued at $7,960,000 after purchasing an additional 175 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp 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 sale, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the transaction, the director 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 15,046 shares of company stock worth $4,074,692. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LH shares. Evercore ISI boosted their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Truist Financial boosted their price objective on Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. UBS Group boosted their price objective on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Stock Down 1.0%

Shares of LH opened at $276.56 on Friday. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a market capitalization of $22.98 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.79 and a beta of 0.89. The business’s fifty day moving average price is $273.70 and its two-hundred day moving average price is $254.43.

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

Labcorp Announces Dividend

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

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.