Humankind Investments LLC Decreases Position in Labcorp Holdings Inc. $LH

Humankind Investments LLC lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,809 shares of the medical research company’s stock after selling 286 shares during the period. Humankind Investments LLC’s holdings in Labcorp were worth $1,352,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its position in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. acquired a new stake in shares of Labcorp during the 1st quarter valued at about $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp during the 1st quarter valued at about $28,000. Larson Financial Group LLC boosted its holdings in Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after buying an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Labcorp in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. UBS Group lifted their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Barclays reaffirmed a “cautious” rating on shares of Labcorp in a research report on Wednesday, June 25th. Finally, Evercore ISI upped their price objective on Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $289.58.

Insiders Place Their Bets

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president owned 30,067 shares in the company, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,046 shares of company stock valued at $4,831,192. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Up 2.1%

NYSE LH opened at $276.1560 on Wednesday. The stock has a market capitalization of $22.95 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The firm has a 50-day moving average price of $260.17 and a 200 day moving average price of $247.45. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the company posted $3.94 earnings per share. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research 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. Stockholders of record on Thursday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio 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.