Vanguard Personalized Indexing Management LLC Raises Position in Labcorp Holdings Inc. $LH

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 24.6% during the second quarter, HoldingsChannel reports. The firm owned 12,770 shares of the medical research company’s stock after purchasing an additional 2,521 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Labcorp were worth $3,353,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its stake in shares of Labcorp by 7.9% during the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after purchasing an additional 225 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Labcorp by 25.2% during the 1st 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 period. Strs Ohio purchased a new position in shares of Labcorp during the 1st quarter worth $23,639,000. Assenagon Asset Management S.A. lifted its stake 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 purchasing an additional 116,100 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Labcorp during the 1st quarter worth $2,639,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 1.2%

Shares of Labcorp stock opened at $280.02 on Wednesday. The business has a 50-day moving average of $275.89 and a 200-day moving average of $256.69. 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 has a market capitalization of $23.27 billion, a PE ratio of 30.91, a P/E/G ratio of 1.77 and a beta of 0.89. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year 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 for the quarter, beating the consensus estimate of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company’s revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Insider Activity at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the 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 transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares in the company, 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 three months, insiders sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group upped their price objective on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. Finally, Barclays upped their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.83.

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.