Wealthfront Advisers LLC Increases Position in Labcorp Holdings Inc. $LH

Wealthfront Advisers LLC raised its holdings in Labcorp Holdings Inc. (NYSE:LH) by 10.4% in the second quarter, Holdings Channel reports. The fund owned 7,250 shares of the medical research company’s stock after buying an additional 685 shares during the period. Wealthfront Advisers LLC’s holdings in Labcorp were worth $1,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in LH. Vanguard Group Inc. increased its holdings in shares of Labcorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after purchasing an additional 71,464 shares during the last quarter. Select Equity Group L.P. grew its holdings in Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after buying an additional 624,099 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Labcorp by 2.2% in the 2nd 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 buying an additional 43,509 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after acquiring an additional 401,808 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after acquiring an additional 318,865 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LH shares. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Barclays increased their price target on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. UBS Group reduced their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, Evercore ISI raised 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. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and an average target price of $295.54.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,643 shares of the firm’s 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 completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Performance

Shares of LH stock opened at $252.81 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The firm has a market cap of $21.01 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.59 and a beta of 0.89. The firm’s 50 day moving average price is $277.30 and its 200-day moving average price is $260.80. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company earned $3.50 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS 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 issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s payout ratio is currently 28.29%.

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.