822 Shares in Labcorp Holdings Inc. $LH Bought by Cigna Investments Inc. New

Cigna Investments Inc. New purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 822 shares of the medical research company’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently bought and sold shares of 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 last quarter. North Capital Inc. purchased a new position in Labcorp during the 1st quarter worth $27,000. TruNorth Capital Management LLC purchased a new position in Labcorp during the 1st quarter worth $28,000. Larson Financial Group LLC grew its position in Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Labcorp during the 1st quarter worth $31,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’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 value 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. The trade was a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,546 shares of company stock worth $4,207,192. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LH. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research report on Monday, August 25th. Truist Financial lifted their target price on shares of Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, July 25th. Morgan Stanley lifted their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. UBS Group lifted their target price on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $290.33.

Labcorp Stock Down 1.1%

LH stock opened at $276.18 on Friday. The company has a market cap of $22.95 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.79 and a beta of 0.85. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The company’s 50-day moving average price is $270.42 and its 200 day moving average price is $252.68. 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 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is presently 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.