643 Shares in Labcorp Holdings Inc. $LH Purchased by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 643 shares of the medical research company’s stock, valued at approximately $169,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC purchased a new stake in shares of Labcorp in the 4th quarter valued at about $991,000. GAMMA Investing LLC raised its holdings in shares of Labcorp by 60.8% in the 1st quarter. GAMMA Investing LLC now owns 3,479 shares of the medical research company’s stock valued at $810,000 after acquiring an additional 1,316 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Labcorp by 12.7% in the 1st quarter. Handelsbanken Fonder AB now owns 19,022 shares of the medical research company’s stock valued at $4,427,000 after acquiring an additional 2,145 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of Labcorp in the 1st quarter valued at about $212,000. Finally, Azzad Asset Management Inc. ADV purchased a new stake in shares of Labcorp in the 1st quarter valued at about $690,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the firm’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 value of $980,000.00. Following the transaction, the director owned 8,666 shares in the company, 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. Insiders have sold 15,046 shares of company stock valued at $4,074,692 in the last 90 days. 0.84% of the stock is owned by insiders.

Labcorp Price Performance

Shares of Labcorp stock opened at $277.96 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $23.10 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. The business’s 50-day moving average price is $275.30 and its 200-day moving average price is $256.03. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20.

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. 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. Sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on LH shares. HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday. Finally, Truist Financial increased their price objective on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus 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.