Labcorp Holdings Inc. $LH is Navera Investment Management Ltd.’s 10th Largest Position

Navera Investment Management Ltd. lowered its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 15.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,068,968 shares of the medical research company’s stock after selling 197,720 shares during the quarter. Labcorp comprises 5.1% of Navera Investment Management Ltd.’s portfolio, making the stock its 10th largest holding. Navera Investment Management Ltd.’s holdings in Labcorp were worth $280,472,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC lifted its position in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. bought a new position in Labcorp during the first quarter valued at $27,000. TruNorth Capital Management LLC bought a new position in Labcorp during the first quarter valued at $28,000. Larson Financial Group LLC lifted its position in Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Labcorp during the first quarter valued at $31,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 1.6%

Shares of LH opened at $279.40 on Wednesday. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $289.20. The company has a 50-day moving average of $274.34 and a 200 day moving average of $255.13. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

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

Labcorp Announces Dividend

The business also recently disclosed 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. 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 (DPR) is presently 31.79%.

Analyst Ratings Changes

LH has been the subject of several research reports. HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Barclays raised their target price on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Evercore ISI raised their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday. Robert W. Baird set a $311.00 target price on shares of Labcorp in a report on Monday, August 25th. Finally, Truist Financial raised their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $292.00.

Insider Activity at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director owned 6,656 shares of the company’s stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,046 shares of company stock worth $4,074,692. Corporate 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.