Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its holdings in Labcorp Holdings Inc. (NYSE:LH) by 6.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,102 shares of the medical research company’s stock after selling 3,828 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.07% of Labcorp worth $12,824,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after buying an additional 52 shares during the last quarter. North Capital Inc. bought a new stake in Labcorp in the first quarter valued at $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp in the first quarter valued at $28,000. Larson Financial Group LLC lifted its stake in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Labcorp in the first quarter valued at $31,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LH. Morgan Stanley raised their target price on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. UBS Group raised their target price on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Piper Sandler reiterated a “neutral” rating and issued a $280.00 target price (up from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Finally, Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $289.58.

Insider Transactions at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock valued at $4,831,192 in the last quarter. 0.84% of the stock is owned by company insiders.

Labcorp Price Performance

Shares of NYSE LH opened at $270.60 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The firm’s 50-day simple moving average is $259.53 and its 200 day simple moving average is $247.12. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The stock has a market cap of $22.49 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.73 and a beta of 0.78.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the previous year, the business earned $3.94 earnings per share. Labcorp’s revenue for the quarter was up 9.6% compared to the same quarter last year. Equities analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 31.79%.

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.