Labcorp Holdings Inc. $LH is First Financial Group Corp’s 8th Largest Position

First Financial Group Corp lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,043 shares of the medical research company’s stock after selling 270 shares during the period. Labcorp comprises about 3.9% of First Financial Group Corp’s portfolio, making the stock its 8th largest holding. First Financial Group Corp’s holdings in Labcorp were worth $3,949,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Labcorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after buying an additional 71,464 shares during the last quarter. Select Equity Group L.P. increased its stake in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after purchasing an additional 624,099 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Labcorp by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company’s stock valued at $455,370,000 after purchasing an additional 40,814 shares in the last quarter. Invesco Ltd. increased its stake in shares of Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after purchasing an additional 250,486 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 1.6%

LH opened at $279.40 on Wednesday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The stock has a market capitalization of $23.22 billion, a PE ratio of 30.84, a P/E/G ratio of 1.76 and a beta of 0.89. The business’s 50 day moving average price is $274.34 and its 200 day moving average price is $255.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50.

Labcorp (NYSE:LH) last released its quarterly earnings data 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. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the firm posted $3.94 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

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

Insider Transactions at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the company’s 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 transaction, the director directly owned 8,666 shares in the company, valued at $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 over the last three months. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. Truist Financial boosted their price objective on Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Morgan Stanley boosted their price objective on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Saturday, September 27th. Finally, Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.00.

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.