Forvis Mazars Wealth Advisors LLC Reduces Holdings in Labcorp Holdings Inc. $LH

Forvis Mazars Wealth Advisors LLC lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,529 shares of the medical research company’s stock after selling 209 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Labcorp were worth $2,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Labcorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after buying an additional 71,464 shares during the last quarter. Select Equity Group L.P. lifted its position in shares of Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after buying an additional 624,099 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Labcorp by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after buying an additional 43,509 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Labcorp by 28.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock valued at $476,995,000 after buying an additional 401,808 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after buying an additional 318,865 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $285.66 on Monday. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 1.83 and a beta of 0.89. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $289.20. The stock’s 50-day moving average is $277.19 and its 200 day moving average is $257.90.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the firm posted $3.94 EPS. Labcorp’s revenue for the quarter 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, sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Insiders Place Their Bets

In other 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 sale, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 in the last 90 days. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LH. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Mizuho boosted their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. Robert W. Baird set a $311.00 price objective on Labcorp in a research note on Monday, August 25th. Truist Financial set a $320.00 price objective on Labcorp in a research note on Tuesday, October 14th. Finally, Evercore ISI boosted their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and a consensus target price of $296.46.

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.