US Bancorp DE Sells 312 Shares of Labcorp Holdings Inc. $LH

US Bancorp DE lowered its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.4% in the second quarter, HoldingsChannel reports. The firm owned 21,577 shares of the medical research company’s stock after selling 312 shares during the period. US Bancorp DE’s holdings in Labcorp were worth $5,664,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after acquiring an additional 40 shares during the period. Highland Capital Management LLC boosted its holdings in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after acquiring an additional 40 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after acquiring an additional 45 shares during the period. Tempus Wealth Planning LLC boosted its holdings in shares of Labcorp by 2.0% during the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after acquiring an additional 45 shares during the period. Finally, Horizon Investments LLC boosted its holdings in shares of Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after acquiring an additional 48 shares during the period. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LH shares. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Robert W. Baird set a $311.00 price target on shares of Labcorp in a research report on Monday, August 25th. Morgan Stanley lifted their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Evercore ISI lifted their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Labcorp has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Stock Up 0.1%

Shares of LH opened at $277.96 on Monday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The company has a market cap of $23.10 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.78 and a beta of 0.89. 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 firm has a 50 day simple moving average of $275.30 and a two-hundred day simple moving average of $256.20.

Labcorp (NYSE:LH) last announced 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the business earned $3.94 earnings per share. The company’s revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

Insider Activity

In other news, CEO Adam H. Schechter sold 5,643 shares of the company’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 completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 in the last three months. Company insiders own 0.84% of the company’s stock.

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.