Wellington Management Group LLP Has $61.73 Million Position in Labcorp Holdings Inc. $LH

Wellington Management Group LLP lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 265,245 shares of the medical research company’s stock after purchasing an additional 1,711 shares during the quarter. Wellington Management Group LLP’s holdings in Labcorp were worth $61,733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Select Equity Group L.P. boosted its position in Labcorp by 150.9% during the fourth 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 purchasing an additional 959,981 shares during the last quarter. GAMMA Investing LLC boosted its position 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 valued at $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 valued at $330,750,000 after purchasing an additional 318,865 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Labcorp by 55.9% during 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 acquired a new position in Labcorp during the fourth quarter valued at approximately $48,693,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,046 shares of company stock valued at $4,831,192 in the last 90 days. Corporate insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

LH opened at $277.9660 on Friday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47. The stock has a market cap of $23.10 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.77 and a beta of 0.78. The business has a 50 day moving average of $261.17 and a 200-day moving average of $248.07. 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 announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research analysts expect 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, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.72 per share. 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%.

Wall Street Analyst Weigh In

Several research analysts recently commented on LH shares. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Morgan Stanley increased their price target 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 target on Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Barclays reaffirmed a “cautious” rating on shares of Labcorp in a research report on Wednesday, June 25th. Finally, Truist Financial raised their price objective on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $289.58.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.