Labcorp Holdings Inc. $LH Shares Sold by Cwm LLC

Cwm LLC decreased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,611 shares of the medical research company’s stock after selling 238 shares during the period. Cwm LLC’s holdings in Labcorp were worth $1,998,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Golden State Wealth Management LLC increased its holdings in shares of Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. acquired a new position in shares of Labcorp in the first quarter valued at approximately $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp in the first quarter valued at approximately $28,000. Larson Financial Group LLC increased its holdings in shares of Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Up 0.7%

LH opened at $285.66 on Monday. The business’s fifty day moving average is $277.19 and its two-hundred day moving average is $257.90. 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 company has a market cap of $23.74 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.83 and a beta of 0.89. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20.

Labcorp (NYSE:LH) last posted its earnings results 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 for 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%.Labcorp’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business 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 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 31.79%.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% 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 over the last three months. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley boosted their target price on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. UBS Group upped their price objective on Labcorp from $305.00 to $325.00 and gave the stock a “buy” rating in a report on Friday. Barclays upped their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. Eleven equities research 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 company presently has a consensus rating of “Moderate Buy” and an average 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.