Labcorp Holdings Inc. $LH Shares Acquired by Thematics Asset Management

Thematics Asset Management raised its position in Labcorp Holdings Inc. (NYSE:LH) by 14.7% during the second quarter, HoldingsChannel.com reports. The firm owned 20,015 shares of the medical research company’s stock after buying an additional 2,572 shares during the quarter. Thematics Asset Management’s holdings in Labcorp were worth $5,254,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LH. Vanguard Group Inc. lifted its holdings in shares of Labcorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock valued at $2,593,395,000 after acquiring an additional 156,717 shares in the last quarter. Select Equity Group L.P. boosted 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 worth $516,696,000 after acquiring an additional 624,099 shares during the period. Geode Capital Management LLC increased its stake in Labcorp by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock worth $552,445,000 after buying an additional 44,630 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Labcorp by 2.2% during the second 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 acquiring an additional 43,509 shares in the last quarter. Finally, Nordea Investment Management AB increased its holdings in Labcorp by 28.2% during 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 purchasing an additional 401,808 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction 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. The trade was a 73.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the sale, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This trade represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by corporate insiders.

Labcorp Stock Down 1.2%

NYSE LH opened at $258.30 on Monday. The company has a market capitalization of $21.41 billion, a P/E ratio of 25.37, a PEG ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. The company’s 50 day simple moving average is $269.49 and its 200 day simple moving average is $265.74. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72.

Labcorp (NYSE:LH) last issued its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping 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 business 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. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities research 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. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 28.29%.

Analysts Set New Price Targets

LH has been the subject of several recent analyst reports. Robert W. Baird set a $304.00 price objective on shares of Labcorp in a report on Wednesday, October 29th. UBS Group lowered their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Evercore ISI raised their price target on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Finally, Mizuho boosted their price objective on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $297.07.

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.