Labcorp Holdings Inc. $LH Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC decreased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,500 shares of the medical research company’s stock after selling 288 shares during the quarter. RWA Wealth Partners LLC’s holdings in Labcorp were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in Labcorp by 0.6% in the first quarter. Wellington Management Group LLP now owns 265,245 shares of the medical research company’s stock valued at $61,733,000 after buying an additional 1,711 shares in the last quarter. QSV Equity Investors LLC purchased a new position in Labcorp in the first quarter valued at $394,000. Brooklyn Investment Group increased its holdings in Labcorp by 71.7% in the first quarter. Brooklyn Investment Group now owns 1,118 shares of the medical research company’s stock valued at $260,000 after buying an additional 467 shares in the last quarter. Versor Investments LP purchased a new position in Labcorp in the first quarter valued at $725,000. Finally, Mill Creek Capital Advisors LLC increased its holdings in Labcorp by 12.1% in the first quarter. Mill Creek Capital Advisors LLC now owns 1,697 shares of the medical research company’s stock valued at $395,000 after buying an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LH. Morgan Stanley increased their target price on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research report on Thursday, July 10th. Barclays reiterated a “cautious” rating on shares of Labcorp in a research report on Wednesday, June 25th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Robert W. Baird increased their target price on Labcorp from $290.00 to $302.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $289.58.

Labcorp Stock Performance

NYSE:LH opened at $277.9550 on Thursday. The company’s 50-day moving average price is $260.53 and its 200-day moving average price is $247.66. 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 company has a market cap of $23.10 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.76 and a beta of 0.78. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion for 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%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, sell-side analysts forecast 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, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s payout ratio is currently 31.79%.

Insider Buying and Selling

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the sale, the executive vice president directly owned 30,067 shares in the company, valued at $7,426,549. This represents a 6.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock worth $4,831,192 over the last quarter. Corporate insiders own 0.84% of the company’s stock.

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.