Verdence Capital Advisors LLC Boosts Holdings in Labcorp Holdings Inc. $LH

Verdence Capital Advisors LLC lifted its stake in Labcorp Holdings Inc. (NYSE:LH) by 9.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,373 shares of the medical research company’s stock after purchasing an additional 375 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Labcorp were worth $1,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its position in Labcorp by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after buying an additional 40 shares during the last quarter. Highland Capital Management LLC raised its position in Labcorp by 0.3% in the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after buying an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in Labcorp by 1.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after buying an additional 45 shares during the last quarter. Tempus Wealth Planning LLC raised its position in Labcorp by 2.0% in the 2nd quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after buying an additional 45 shares during the last quarter. Finally, Horizon Investments LLC raised its position in Labcorp by 4.2% in the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,046 shares of company stock valued at $4,074,692. Insiders own 0.84% of the company’s stock.

Labcorp Price Performance

NYSE LH opened at $276.37 on Tuesday. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The firm has a market capitalization of $22.97 billion, a P/E ratio of 30.50, a PEG ratio of 1.78 and a beta of 0.89. 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 company has a 50-day moving average price of $275.56 and a 200-day moving average price of $256.53.

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 analysts’ consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s payout ratio is 31.79%.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent analyst reports. Barclays boosted their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Morgan Stanley upped their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.00.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.