Verdence Capital Advisors LLC Acquires 375 Shares of Labcorp Holdings Inc. $LH

Verdence Capital Advisors LLC lifted its position in Labcorp Holdings Inc. (NYSE:LH) by 9.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,373 shares of the medical research company’s stock after purchasing an additional 375 shares during the period. Verdence Capital Advisors LLC’s holdings in Labcorp were worth $1,148,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in shares of Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. bought a new position in shares of Labcorp in the first quarter worth approximately $27,000. TruNorth Capital Management LLC bought a new position in shares of Labcorp in the first quarter worth approximately $28,000. Larson Financial Group LLC grew its holdings in shares of Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Labcorp in the first quarter worth approximately $31,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH stock opened at $276.37 on Tuesday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20. The stock has a market cap of $22.97 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company’s fifty day moving average price is $275.56 and its 200-day moving average price is $256.53.

Labcorp (NYSE:LH) last announced its 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 net margin of 5.66% and a return on equity of 15.45%. 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 previous year, the business posted $3.94 EPS. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be issued 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 is Wednesday, November 26th. Labcorp’s payout ratio is 31.79%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. 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 report on Friday, October 3rd. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, UBS Group lifted their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.00.

Insider Buying and Selling at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction on 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 sale, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,046 shares of company stock worth $4,074,692. Corporate insiders own 0.84% of the company’s stock.

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.