Labcorp Holdings Inc. $LH Holdings Trimmed by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 595,111 shares of the medical research company’s stock after selling 7,572 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Labcorp were worth $170,833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after purchasing an additional 11,262 shares in the last quarter. Lazard Asset Management LLC grew its position in Labcorp by 224.1% in the second quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after buying an additional 684,153 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Labcorp by 3.1% in the second quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after buying an additional 1,043 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of Labcorp by 13.8% during the 2nd quarter. Osaic Holdings Inc. now owns 38,620 shares of the medical research company’s stock valued at $10,025,000 after acquiring an additional 4,690 shares during the last quarter. Finally, Equitable Trust Co. boosted its stake in shares of Labcorp by 3.5% during the 2nd quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock worth $20,325,000 after acquiring an additional 2,644 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on LH. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a report on Saturday, January 10th. Weiss Ratings lowered shares of Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. UBS Group cut their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 price objective on shares of Labcorp in a research note on Tuesday, October 14th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $299.77.

Labcorp Trading Up 0.7%

Labcorp stock opened at $270.90 on Tuesday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock has a market cap of $22.46 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.71 and a beta of 1.00. The company’s fifty day simple moving average is $260.20 and its 200-day simple moving average is $266.02.

Labcorp (NYSE:LH) last released its quarterly earnings data 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 firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the firm 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. As a group, sell-side analysts forecast 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, March 12th. Investors of record on Friday, February 27th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the sale, the chief executive officer directly owned 87,574 shares in the company, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 owned 2,469 shares in the company, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.