Ritholtz Wealth Management Increases Position in Labcorp Holdings Inc. $LH

Ritholtz Wealth Management grew its stake in Labcorp Holdings Inc. (NYSE:LH) by 36.1% during the second quarter, HoldingsChannel reports. The fund owned 2,338 shares of the medical research company’s stock after acquiring an additional 620 shares during the quarter. Ritholtz Wealth Management’s holdings in Labcorp were worth $614,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Labcorp by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock valued at $114,000 after acquiring an additional 40 shares during the period. Highland Capital Management LLC grew its stake in Labcorp by 0.3% during the 2nd 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 last quarter. Dorsey & Whitney Trust CO LLC grew its stake in Labcorp by 1.4% during the 1st 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 last quarter. Tempus Wealth Planning LLC grew its stake in Labcorp by 2.0% during the 2nd 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 last quarter. Finally, Horizon Investments LLC grew its stake in Labcorp by 4.2% during the 1st 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 last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Shares of LH stock opened at $285.66 on Monday. The stock has a market cap of $23.74 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The business has a 50-day simple moving average of $277.19 and a 200-day simple moving average of $257.90. 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 Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.94 EPS. 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 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 paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s payout ratio is currently 31.79%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction that occurred 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 sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,046 shares of company stock valued at $4,074,692. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

LH has been the topic of several research analyst reports. Mizuho boosted their target price on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Finally, Morgan Stanley boosted their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $296.46.

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.