MGO One Seven LLC Makes New Investment in Labcorp Holdings Inc. $LH

MGO One Seven LLC purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 909 shares of the medical research company’s stock, valued at approximately $239,000.

Several other hedge funds have also recently added to or reduced their stakes in LH. Golden State Wealth Management LLC lifted its stake in Labcorp by 88.1% during 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 stake in Labcorp during the first quarter worth about $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp during the first quarter worth about $28,000. Larson Financial Group LLC lifted its stake in Labcorp by 140.4% during 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 stake in shares of Labcorp in the 1st quarter valued at about $31,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 1.9%

LH stock opened at $291.34 on Tuesday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $291.78. The business’s 50 day moving average price is $277.66 and its two-hundred day moving average price is $258.38. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The company has a market capitalization of $24.21 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89.

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

Labcorp Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Truist Financial set a $320.00 target price on Labcorp in a research note on Tuesday, October 14th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Barclays boosted their target price on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Finally, UBS Group boosted their target price on Labcorp from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.46.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,643 shares of the company’s 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 owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 8,666 shares in the company, 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 quarter, insiders have sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is currently owned by corporate insiders.

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.