Ellevest Inc. Acquires Shares of 1,028 Labcorp Holdings Inc. $LH

Ellevest Inc. bought a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,028 shares of the medical research company’s stock, valued at approximately $270,000.

Several other institutional investors have also added to or reduced their stakes in LH. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp during the second quarter valued at approximately $25,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the first quarter worth $28,000. Larson Financial Group LLC raised its stake in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp during the first quarter valued at about $31,000. Finally, Atlantic Private Wealth LLC purchased a new position in shares of Labcorp in the first quarter worth $36,000. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LH. Mizuho boosted 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, October 17th. Evercore ISI lifted their price target on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Morgan Stanley increased their price target on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $295.54.

Insider Activity

In related news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 16,555 shares of company stock valued at $4,347,040. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Performance

NYSE:LH opened at $245.96 on Friday. The firm has a market capitalization of $20.39 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. The company’s 50-day moving average is $274.80 and its two-hundred day moving average is $261.87.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the business earned $3.50 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company 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. This represents a $2.88 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) 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.