Labcorp Holdings Inc. $LH Shares Acquired by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,400 shares of the medical research company’s stock after purchasing an additional 600 shares during the quarter. Forsta AP Fonden’s holdings in Labcorp were worth $7,193,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Labcorp by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after acquiring an additional 11,262 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Labcorp by 7.9% during the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after purchasing an additional 225 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Labcorp by 12.7% during the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after purchasing an additional 1,507 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock worth $38,320,000 after purchasing an additional 1,816 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 worth $528,739,000 after purchasing an additional 43,509 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 0.7%

Labcorp stock opened at $267.82 on Friday. The company’s 50-day moving average price is $273.56 and its two-hundred day moving average price is $263.28. The stock has a market cap of $22.20 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Labcorp Dividend Announcement

The firm also recently disclosed 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 is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the firm’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 directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Barclays upped their price target on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Morgan Stanley lifted their price objective 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. Finally, Truist Financial set a $320.00 target price on shares of Labcorp in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $297.07.

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.