QRG Capital Management Inc. Has $878,000 Stock Holdings in Labcorp Holdings Inc. $LH

QRG Capital Management Inc. reduced its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 78.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,059 shares of the medical research company’s stock after selling 11,231 shares during the period. QRG Capital Management Inc.’s holdings in Labcorp were worth $878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LH. Harbor Asset Planning Inc. acquired a new position in shares of Labcorp during the 2nd quarter worth $25,000. Caldwell Trust Co bought a new position in Labcorp in the second quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp during the second quarter worth about $26,000. Motco bought a new position in shares of Labcorp in the third quarter worth about $32,000. Finally, Headlands Technologies LLC boosted its stake in shares of Labcorp by 300.0% in the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction that occurred 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 transaction, the director owned 2,469 shares in the company, valued at approximately $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction that occurred 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 sale, 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 position. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Evercore ISI raised their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Truist Financial set a $320.00 price objective on Labcorp in a research report on Tuesday, October 14th. JPMorgan Chase & Co. increased their target price on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Barclays boosted their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.77.

Labcorp Trading Down 0.8%

Shares of LH stock opened at $269.12 on Thursday. The company has a market cap of $22.31 billion, a P/E ratio of 26.44, a PEG ratio of 1.71 and a beta of 1.00. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The stock has a 50 day simple moving average of $260.31 and a two-hundred day simple moving average of $266.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last 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. Research analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 28.29%.

Labcorp 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.