APG Asset Management N.V. Sells 400 Shares of Labcorp Holdings Inc. $LH

APG Asset Management N.V. reduced its position in Labcorp Holdings Inc. (NYSE:LH) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,200 shares of the medical research company’s stock after selling 400 shares during the quarter. APG Asset Management N.V. owned about 0.05% of Labcorp worth $9,739,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LH. Brighton Jones LLC acquired a new stake in shares of Labcorp in the 4th quarter valued at approximately $991,000. First Trust Advisors LP boosted its stake in shares of Labcorp by 34.2% in the 4th quarter. First Trust Advisors LP now owns 69,441 shares of the medical research company’s stock valued at $15,924,000 after purchasing an additional 17,682 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Labcorp in the 4th quarter valued at approximately $9,779,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Labcorp in the 4th quarter valued at approximately $431,000. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new stake in shares of Labcorp in the 4th quarter valued at approximately $63,000. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Down 0.7%

NYSE:LH opened at $276.19 on Tuesday. The firm’s 50 day simple moving average is $261.42 and its 200 day simple moving average is $248.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The company has a market cap of $22.95 billion, a PE ratio of 30.48, a P/E/G ratio of 1.78 and a beta of 0.78.

Labcorp (NYSE:LH) last released 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 analyst estimates of $3.49 billion. During the same quarter last year, the business earned $3.94 EPS. The company’s revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is currently 31.79%.

Wall Street Analyst Weigh In

LH has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Evercore ISI raised their price target on shares of Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Robert W. Baird raised their price target 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. Finally, Truist Financial lifted their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Nine 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $289.58.

Insider Buying and Selling

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the business’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following 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 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 over the last ninety days. 0.84% of the stock is owned by company insiders.

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.