American National Bank & Trust Acquires 855 Shares of Labcorp Holdings Inc. $LH

American National Bank & Trust lifted its position in Labcorp Holdings Inc. (NYSE:LH) by 1.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,106 shares of the medical research company’s stock after acquiring an additional 855 shares during the quarter. Labcorp accounts for approximately 1.3% of American National Bank & Trust’s investment portfolio, making the stock its 23rd largest holding. American National Bank & Trust owned approximately 0.06% of Labcorp worth $13,153,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. TD Private Client Wealth LLC grew its stake in shares of Labcorp by 2.7% during the second quarter. TD Private Client Wealth LLC now owns 5,145 shares of the medical research company’s stock worth $1,351,000 after acquiring an additional 134 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Labcorp by 3.2% during the second quarter. Public Employees Retirement System of Ohio now owns 30,416 shares of the medical research company’s stock worth $7,985,000 after acquiring an additional 947 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of Labcorp by 8.4% during the second quarter. Ballentine Partners LLC now owns 1,240 shares of the medical research company’s stock worth $326,000 after acquiring an additional 96 shares during the last quarter. Cigna Investments Inc. New purchased a new stake in shares of Labcorp during the second quarter worth about $216,000. Finally, Banyan Capital Management Inc. boosted its position in Labcorp by 2.4% in the second quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock valued at $10,275,000 after buying an additional 923 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,546 shares of company stock valued at $4,207,192. 0.84% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on LH. Morgan Stanley upped their target price on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Truist Financial upped their target price on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, July 25th. UBS Group upped their target price on 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. Finally, HSBC downgraded 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. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Stock Down 1.1%

NYSE LH opened at $276.18 on Friday. The business has a fifty day moving average price of $270.42 and a 200 day moving average price of $252.68. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. 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 (NYSE:LH) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued 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 dividend yield of 1.0%. Labcorp’s dividend payout ratio 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.