TD Private Client Wealth LLC Reduces Holdings in Labcorp Holdings Inc. $LH

TD Private Client Wealth LLC decreased its position in Labcorp Holdings Inc. (NYSE:LH) by 55.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,271 shares of the medical research company’s stock after selling 2,874 shares during the period. TD Private Client Wealth LLC’s holdings in Labcorp were worth $652,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Labcorp during the 2nd quarter valued at about $263,070,000. Lazard Asset Management LLC raised its stake in Labcorp by 224.1% in the second quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after buying an additional 684,153 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Labcorp by 28.2% in 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 purchasing an additional 401,808 shares during the period. Pacer Advisors Inc. grew its position in shares of Labcorp by 4,070.6% in the 3rd quarter. Pacer Advisors Inc. now owns 305,746 shares of the medical research company’s stock worth $87,767,000 after buying an additional 298,415 shares during the period. Finally, Marshall Wace LLP lifted its position in Labcorp by 402.7% during the 2nd quarter. Marshall Wace LLP now owns 348,096 shares of the medical research company’s stock valued at $91,379,000 after acquiring an additional 278,855 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,745 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the sale, the director directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Shares of LH opened at $270.90 on Friday. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 26.61, a P/E/G ratio of 1.69 and a beta of 1.00. The business’s fifty day simple moving average is $260.02 and its two-hundred day simple moving average is $265.91. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.05. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, February 27th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 28.29%.

Analyst Ratings Changes

LH has been the subject of a number of analyst reports. UBS Group decreased their target price on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. JPMorgan Chase & Co. lifted their price objective on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Weiss Ratings cut Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Evercore ISI lifted their price target on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Labcorp has an average rating of “Moderate Buy” and an average target price of $299.77.

About Labcorp

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.