Labcorp Holdings Inc. $LH Shares Acquired by Equitable Trust Co.

Equitable Trust Co. grew its position in Labcorp Holdings Inc. (NYSE:LH) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,427 shares of the medical research company’s stock after purchasing an additional 2,644 shares during the period. Labcorp makes up 1.0% of Equitable Trust Co.’s holdings, making the stock its 25th largest position. Equitable Trust Co.’s holdings in Labcorp were worth $20,325,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. NorthRock Partners LLC purchased a new stake in Labcorp in the second quarter valued at approximately $220,000. Verdence Capital Advisors LLC lifted its stake in Labcorp by 9.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,373 shares of the medical research company’s stock valued at $1,148,000 after acquiring an additional 375 shares during the period. Sequoia Financial Advisors LLC lifted its stake in Labcorp by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after acquiring an additional 1,816 shares during the period. MGO One Seven LLC acquired a new stake in Labcorp during the 2nd quarter valued at approximately $239,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of 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 worth $528,739,000 after purchasing an additional 43,509 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction on Thursday, July 24th. The shares were 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 approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock worth $4,074,692 over the last 90 days. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

NYSE LH opened at $276.37 on Tuesday. The stock has a market capitalization of $22.97 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.78 and a beta of 0.89. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $289.20. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $275.56 and a 200 day moving average of $256.53.

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

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. 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. UBS Group increased 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 downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley boosted their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.00.

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.