Labcorp Holdings Inc. $LH Shares Bought by Capital City Trust Co. FL

Capital City Trust Co. FL boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,402 shares of the medical research company’s stock after acquiring an additional 98 shares during the period. Capital City Trust Co. FL’s holdings in Labcorp were worth $4,043,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings in shares of Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. acquired a new position in shares of Labcorp in the 1st quarter valued at $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp in the 1st quarter valued at $28,000. Larson Financial Group LLC boosted its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Down 1.0%

Shares of Labcorp stock opened at $276.56 on Friday. The company has a market cap of $22.98 billion, a P/E ratio of 30.52, a PEG ratio of 1.77 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The firm has a fifty day moving average of $273.70 and a two-hundred day moving average of $254.54.

Labcorp (NYSE:LH) last announced 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 company had revenue of $3.53 billion during 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%. Labcorp’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LH. HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a report on Thursday, July 10th. UBS Group upped 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. Barclays upped their target price on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Hsbc Global Res downgraded shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $292.00.

Insider Activity at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at $2,426,480. This trade represents a 28.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction dated Wednesday, August 13th. The shares were 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 owned 2,274 shares of the company’s stock, valued at $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is owned by company insiders.

Labcorp Profile

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