Labcorp Holdings Inc. $LH Shares Bought by Carmel Capital Partners LLC

Carmel Capital Partners LLC boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 11.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,540 shares of the medical research company’s stock after acquiring an additional 759 shares during the period. Carmel Capital Partners LLC’s holdings in Labcorp were worth $1,979,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in LH. Brighton Jones LLC acquired a new position in Labcorp during the fourth quarter worth $991,000. GAMMA Investing LLC raised its position in Labcorp by 60.8% during the first quarter. GAMMA Investing LLC now owns 3,479 shares of the medical research company’s stock worth $810,000 after acquiring an additional 1,316 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Labcorp by 84.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,182 shares of the medical research company’s stock worth $8,421,000 after acquiring an additional 16,574 shares during the period. Ritholtz Wealth Management raised its position in Labcorp by 40.2% during the first quarter. Ritholtz Wealth Management now owns 1,718 shares of the medical research company’s stock worth $400,000 after acquiring an additional 493 shares during the period. Finally, State of Alaska Department of Revenue raised its position in Labcorp by 2.3% during the first quarter. State of Alaska Department of Revenue now owns 10,347 shares of the medical research company’s stock worth $2,407,000 after acquiring an additional 230 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Price Performance

Labcorp stock opened at $285.66 on Friday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $289.20. The stock has a market cap of $23.74 billion, a P/E ratio of 31.53, a PEG ratio of 1.81 and a beta of 0.89. The company has a 50-day moving average price of $277.19 and a 200 day moving average price of $257.58. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the business earned $3.94 earnings per share. Labcorp’s revenue was up 9.6% compared to the same quarter last year. 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 earnings per share for the current year.

Labcorp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Evercore ISI increased their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Mizuho increased their target price on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Robert W. Baird set a $311.00 target price on shares of Labcorp in a research report on Monday, August 25th. Eleven investment 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 has an average rating of “Moderate Buy” and a consensus target price of $296.46.

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s 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 directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm’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 sale, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 in the last ninety days. 0.84% of the stock is currently owned by company insiders.

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.