Generali Asset Management SPA SGR Trims Position in Labcorp Holdings Inc. $LH

Generali Asset Management SPA SGR trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,441 shares of the medical research company’s stock after selling 1,390 shares during the quarter. Generali Asset Management SPA SGR’s holdings in Labcorp were worth $4,578,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake 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 buying an additional 40 shares during the period. Highland Capital Management LLC increased its stake 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 buying an additional 40 shares during the period. Dorsey & Whitney Trust CO LLC increased its stake 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 buying an additional 45 shares during the period. Tempus Wealth Planning LLC increased its stake 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 buying an additional 45 shares during the period. Finally, Horizon Investments LLC increased its stake 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 buying an additional 48 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LH. Morgan Stanley upped their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Truist Financial set a $320.00 price target on Labcorp in a report on Tuesday. UBS Group upped their price target on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, Barclays upped their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and an average price target of $292.83.

Labcorp Price Performance

Labcorp stock opened at $282.53 on Thursday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month 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 has a 50 day simple moving average of $276.32 and a 200-day simple moving average of $256.87. The stock has a market capitalization of $23.48 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89.

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

Labcorp Dividend Announcement

The firm 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 $0.72 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s dividend payout ratio is presently 31.79%.

Insiders Place Their Bets

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction on Thursday, July 24th. The stock was 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 of the company’s stock, valued at $2,426,480. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is owned by insiders.

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.