Hilltop National Bank Invests $257,000 in Labcorp Holdings Inc. $LH

Hilltop National Bank acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 980 shares of the medical research company’s stock, valued at approximately $257,000.

A number of other institutional investors also recently bought and sold shares of LH. NewEdge Advisors LLC lifted its stake in Labcorp by 25.2% during the first quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after purchasing an additional 1,721 shares during the last quarter. Strs Ohio purchased a new stake in Labcorp during the first quarter worth approximately $23,639,000. Assenagon Asset Management S.A. lifted its position in shares of 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 buying an additional 116,100 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Labcorp during the 1st quarter worth approximately $2,639,000. Finally, Banyan Capital Management Inc. lifted its position in shares of Labcorp by 2.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock worth $10,275,000 after buying an additional 923 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Saturday, September 27th. HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a report on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Finally, Robert W. Baird set a $311.00 price objective on Labcorp in a research note on Monday, August 25th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Price Performance

Labcorp stock opened at $276.56 on Friday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The business has a 50 day simple moving average of $273.70 and a 200-day simple moving average of $254.43. The stock has a market capitalization of $22.98 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. The business 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 company’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp’s dividend payout ratio is currently 31.79%.

Insider Activity

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the 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 completion of 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. Over the last ninety days, insiders sold 15,046 shares of company stock valued at $4,074,692. Company insiders own 0.84% of the company’s stock.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.