Aberdeen Group plc Buys 3,599 Shares of Labcorp Holdings Inc. $LH

Aberdeen Group plc raised its stake in Labcorp Holdings Inc. (NYSE:LH) by 5.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 74,621 shares of the medical research company’s stock after buying an additional 3,599 shares during the quarter. Aberdeen Group plc’s holdings in Labcorp were worth $19,589,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Brighton Jones LLC purchased a new position in Labcorp in the fourth quarter valued at about $991,000. GAMMA Investing LLC grew its stake in Labcorp by 60.8% in the first quarter. GAMMA Investing LLC now owns 3,479 shares of the medical research company’s stock valued at $810,000 after purchasing an additional 1,316 shares during the last quarter. Azzad Asset Management Inc. ADV purchased a new position in Labcorp in the first quarter valued at about $690,000. Wealth Enhancement Advisory Services LLC grew its stake in Labcorp by 84.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,182 shares of the medical research company’s stock valued at $8,421,000 after purchasing an additional 16,574 shares during the last quarter. Finally, Ritholtz Wealth Management grew its stake in Labcorp by 40.2% in the first quarter. Ritholtz Wealth Management now owns 1,718 shares of the medical research company’s stock valued at $400,000 after purchasing an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on LH. Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Robert W. Baird set a $311.00 target price on Labcorp in a research report on Monday, August 25th. 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. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Finally, HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.00.

Labcorp Stock Down 0.5%

Labcorp stock opened at $276.37 on Tuesday. The firm has a market cap of $22.97 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The business’s 50-day moving average price is $275.56 and its 200 day moving average price is $256.53. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is 31.79%.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director directly owned 8,666 shares of the company’s stock, valued at $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the sale, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,046 shares of company stock valued at $4,074,692 in the last three months. 0.84% of the stock is currently owned by 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.