Labcorp Holdings Inc. $LH Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp lessened its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 97.2% during the second quarter, HoldingsChannel reports. The firm owned 900 shares of the medical research company’s stock after selling 31,689 shares during the period. Boston Trust Walden Corp’s holdings in Labcorp were worth $236,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Labcorp by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock worth $2,262,817,000 after purchasing an additional 71,464 shares in the last quarter. Select Equity Group L.P. increased its position in shares of Labcorp by 39.1% during the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after acquiring an additional 624,099 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Labcorp by 2.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after acquiring an additional 43,509 shares during the last quarter. Invesco Ltd. increased its position in shares of Labcorp by 28.9% during the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after acquiring an additional 318,865 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Labcorp by 24.5% during the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock worth $295,950,000 after acquiring an additional 250,486 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH stock opened at $282.53 on Thursday. 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 business has a 50 day moving average of $276.32 and a two-hundred day moving average of $256.87. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The company has a market cap of $23.48 billion, a P/E ratio of 31.18, a PEG ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating 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 the consensus estimate of $3.49 billion. During the same period in the previous year, the firm posted $3.94 earnings per share. Labcorp’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. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LH shares. UBS Group lifted their target price on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Evercore ISI boosted their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Barclays boosted their price objective on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Ten 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 stock has an average rating of “Moderate Buy” and an average target price of $292.83.

Insider Buying and Selling

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is currently owned by 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.