Northern Trust Corp Lowers Position in Labcorp Holdings Inc. $LH

Northern Trust Corp lessened its holdings in Labcorp Holdings Inc. (NYSE:LH) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,004,256 shares of the medical research company’s stock after selling 6,860 shares during the quarter. Northern Trust Corp owned 1.20% of Labcorp worth $233,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Select Equity Group L.P. lifted its position in shares of Labcorp by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company’s stock valued at $365,985,000 after acquiring an additional 959,981 shares during the period. GAMMA Investing LLC raised its holdings in Labcorp by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock worth $188,450,000 after purchasing an additional 807,539 shares during the last quarter. Invesco Ltd. boosted its position in Labcorp by 28.9% during the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Labcorp by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock valued at $181,819,000 after purchasing an additional 280,011 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of Labcorp in the fourth quarter valued at $48,693,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $280.00 target price (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Morgan Stanley upped their price objective on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Evercore ISI increased their price objective on Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Labcorp from $290.00 to $302.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $289.58.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 18,046 shares of company stock worth $4,831,192. Insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

NYSE LH opened at $277.9550 on Thursday. The business’s 50-day moving average price is $260.53 and its 200 day moving average price is $247.66. 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 Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47. The company has a market capitalization of $23.10 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the business earned $3.94 EPS. Labcorp’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. On average, research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

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.