Strathmore Capital Advisors Inc. Acquires Shares of 2,752 Labcorp Holdings Inc. $LH

Strathmore Capital Advisors Inc. acquired a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,752 shares of the medical research company’s stock, valued at approximately $713,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. Brighton Jones LLC bought a new position in shares of Labcorp during the fourth quarter valued at $991,000. Nomura Holdings Inc. bought a new position in shares of Labcorp during the fourth quarter valued at $632,000. Quantinno Capital Management LP lifted its holdings in shares of Labcorp by 114.5% during the fourth quarter. Quantinno Capital Management LP now owns 6,850 shares of the medical research company’s stock valued at $1,571,000 after acquiring an additional 3,656 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Labcorp by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 12,672 shares of the medical research company’s stock valued at $2,906,000 after acquiring an additional 1,342 shares during the period. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Labcorp by 11.4% during the fourth quarter. Rafferty Asset Management LLC now owns 9,490 shares of the medical research company’s stock valued at $2,176,000 after acquiring an additional 974 shares during the period. 95.94% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on LH. Truist Financial lifted their price objective on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, July 25th. HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Barclays reaffirmed a “cautious” rating on shares of Labcorp in a report on Wednesday, June 25th. UBS Group lifted 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. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $290.33.

Insider Transactions at Labcorp

In related news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction dated 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 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 have sold 15,546 shares of company stock valued at $4,207,192 in the last three months. Company insiders own 0.84% of the company’s stock.

Labcorp Price Performance

Shares of LH stock opened at $275.62 on Thursday. The stock has a 50-day moving average price of $266.86 and a 200 day moving average price of $251.63. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 1.75 and a beta of 0.85. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47.

Labcorp (NYSE:LH) last announced 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 firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s dividend payout ratio (DPR) is presently 31.79%.

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.