Nordea Investment Management AB Has $477 Million Stock Holdings in Labcorp Holdings Inc. $LH

Nordea Investment Management AB lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 28.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,829,039 shares of the medical research company’s stock after buying an additional 401,808 shares during the period. Nordea Investment Management AB’s holdings in Labcorp were worth $476,995,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in 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 during the period. Select Equity Group L.P. raised its stake in shares of Labcorp by 39.1% in the first 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 period. Allspring Global Investments Holdings LLC raised its stake in shares of Labcorp by 2.2% in the second 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 period. Invesco Ltd. grew its position in shares of Labcorp by 28.9% in the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Labcorp by 24.5% in the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after purchasing an additional 250,486 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Up 0.3%

Shares of NYSE LH opened at $283.59 on Friday. 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 $23.57 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 1.81 and a beta of 0.89. The stock has a 50 day moving average price of $276.80 and a 200 day moving average price of $257.22. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping 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 net margin of 5.66% and a return on equity of 15.45%. Labcorp’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders 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 of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,643 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock valued at $4,074,692 over the last quarter. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LH has been the subject of a number of research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. UBS Group increased 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. Evercore ISI raised their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Robert W. Baird set a $311.00 target price on Labcorp in a research note on Monday, August 25th. Finally, HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Ten 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.83.

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.