643 Shares in Labcorp Holdings Inc. $LH Bought by Trust Co. of Toledo NA OH

Trust Co. of Toledo NA OH purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 643 shares of the medical research company’s stock, valued at approximately $169,000.

Other institutional investors have also bought and sold shares of the company. NewEdge Advisors LLC grew its holdings in Labcorp by 25.2% during the first quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after buying an additional 1,721 shares in the last quarter. Strs Ohio bought a new stake in Labcorp during the first quarter worth $23,639,000. Assenagon Asset Management S.A. grew its holdings in Labcorp by 3,009.3% during the second quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock worth $31,490,000 after buying an additional 116,100 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Labcorp during the first quarter worth $2,639,000. Finally, Banyan Capital Management Inc. grew its holdings in Labcorp by 2.4% during the second quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock worth $10,275,000 after buying an additional 923 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LH shares. Morgan Stanley upped their price target on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on Labcorp in a research note on Monday, August 25th. Evercore ISI upped their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research note on Thursday, July 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and a consensus target price of $292.00.

Labcorp Stock Up 0.1%

Shares of NYSE LH opened at $277.96 on Friday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The business’s fifty day moving average price is $275.30 and its 200-day moving average price is $256.03. The stock has a market capitalization of $23.10 billion, a PE ratio of 30.68, a P/E/G ratio of 1.78 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the firm earned $3.94 EPS. The business’s revenue for the quarter 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, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 31.79%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This represents a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the transaction, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,046 shares of company stock worth $4,074,692 over the last quarter. 0.84% of the stock is currently owned by corporate 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.