Labcorp Holdings Inc. $LH Shares Sold by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. reduced its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 18.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,161 shares of the medical research company’s stock after selling 495 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Labcorp were worth $567,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Select Equity Group L.P. boosted its stake in shares of Labcorp by 39.1% in the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after buying an additional 624,099 shares during the last quarter. Nordea Investment Management AB lifted its holdings in Labcorp by 28.2% in the second quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock valued at $476,995,000 after acquiring an additional 401,808 shares during the period. Invesco Ltd. boosted its position in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock worth $181,819,000 after purchasing an additional 280,011 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of Labcorp by 24.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after purchasing an additional 250,486 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Down 0.5%

LH opened at $268.35 on Thursday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $271.37 and a 200 day moving average price of $264.75. The company has a market cap of $22.25 billion, a PE ratio of 26.36, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm posted $3.50 EPS. Labcorp’s 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. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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 paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 28.29%.

Insiders Place Their Bets

In other news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the transaction, the director directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LH shares. Mizuho increased their price target on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Barclays increased their target price on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. 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. JPMorgan Chase & Co. increased their price target on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $297.07.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.