Labcorp Holdings Inc. $LH Shares Sold by Stack Financial Management Inc

Stack Financial Management Inc cut its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 73,567 shares of the medical research company’s stock after selling 1,068 shares during the period. Labcorp accounts for approximately 1.7% of Stack Financial Management Inc’s holdings, making the stock its 25th biggest holding. Stack Financial Management Inc owned approximately 0.09% of Labcorp worth $19,312,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LH. Allspring Global Investments Holdings LLC grew its position in Labcorp by 2.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after acquiring an additional 43,509 shares during the period. Alpha Financial Partners LLC purchased a new stake in shares of Labcorp during the 2nd quarter worth about $201,000. Board of the Pension Protection Fund purchased a new stake in shares of Labcorp during the 2nd quarter worth about $866,000. Vanguard Personalized Indexing Management LLC increased its position in Labcorp by 24.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,770 shares of the medical research company’s stock worth $3,353,000 after purchasing an additional 2,521 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in Labcorp by 34.7% in the second quarter. Concurrent Investment Advisors LLC now owns 2,509 shares of the medical research company’s stock valued at $659,000 after buying an additional 646 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LH. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Barclays increased their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Finally, UBS Group increased their target price on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.00.

Insiders Place Their Bets

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on 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 transaction, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction dated 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 sale, the director directly 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. In the last 90 days, insiders have sold 15,046 shares of company stock valued at $4,074,692. Corporate insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Shares of LH stock opened at $277.96 on Monday. 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 company’s fifty day moving average price is $275.30 and its two-hundred day moving average price is $256.20. The firm has a market capitalization of $23.10 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.78 and a beta of 0.89. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the company earned $3.94 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. 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.