Stockman Wealth Management Inc. Takes $217,000 Position in Labcorp Holdings Inc. $LH

Stockman Wealth Management Inc. purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 825 shares of the medical research company’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC grew its position in Labcorp by 25.2% during the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after acquiring an additional 1,721 shares during the last quarter. Strs Ohio bought a new position in Labcorp during the 1st quarter worth approximately $23,639,000. Assenagon Asset Management S.A. grew its position in Labcorp by 3,009.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock worth $31,490,000 after acquiring an additional 116,100 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Labcorp during the 1st quarter worth approximately $2,639,000. Finally, Select Equity Group L.P. grew its position in Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after acquiring an additional 624,099 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a report on Thursday, July 10th. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.33.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp 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 transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock worth $4,207,192 in the last ninety days. 0.84% of the stock is owned by company insiders.

Labcorp Trading Up 1.7%

LH opened at $280.87 on Friday. The stock has a market cap of $23.34 billion, a PE ratio of 31.00, a PEG ratio of 1.79 and a beta of 0.85. 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 business has a 50 day moving average of $271.17 and a 200-day moving average of $253.08. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the business posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued 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 is 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.