Fairscale Capital LLC Has $39,000 Holdings in Labcorp Holdings Inc. $LH

Fairscale Capital LLC trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 30.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 166 shares of the medical research company’s stock after selling 72 shares during the quarter. Fairscale Capital LLC’s holdings in Labcorp were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Labcorp during the 4th quarter valued at $991,000. Mariner LLC grew its holdings in shares of Labcorp by 25.8% during the fourth quarter. Mariner LLC now owns 13,215 shares of the medical research company’s stock worth $3,030,000 after purchasing an additional 2,709 shares during the last quarter. Guggenheim Capital LLC increased its stake in shares of Labcorp by 5.8% in the fourth quarter. Guggenheim Capital LLC now owns 7,408 shares of the medical research company’s stock valued at $1,699,000 after buying an additional 403 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Labcorp by 2,278.0% in the fourth quarter. NewEdge Advisors LLC now owns 6,825 shares of the medical research company’s stock valued at $1,565,000 after buying an additional 6,538 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Labcorp by 52.2% during the 4th quarter. Canada Pension Plan Investment Board now owns 2,410 shares of the medical research company’s stock worth $553,000 after buying an additional 827 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the transaction, the director owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,046 shares of company stock worth $4,831,192 in the last three months. 0.84% of the stock is owned by insiders.

Labcorp Price Performance

Shares of LH opened at $270.60 on Monday. The stock has a market cap of $22.49 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47. The stock’s 50-day moving average price is $259.53 and its two-hundred day moving average price is $247.09. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the firm earned $3.94 EPS. Labcorp’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Analyst Upgrades and Downgrades

LH has been the topic of a number of research reports. Robert W. Baird upped their target price on shares of Labcorp from $290.00 to $302.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. UBS Group upped their price objective on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays reiterated a “cautious” rating on shares of Labcorp in a research report on Wednesday, June 25th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Morgan Stanley upped their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus target price of $289.58.

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.