Labcorp Holdings Inc. $LH Position Raised by Linscomb Wealth Inc.

Linscomb Wealth Inc. increased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 5.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,875 shares of the medical research company’s stock after purchasing an additional 752 shares during the period. Linscomb Wealth Inc.’s holdings in Labcorp were worth $3,905,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its holdings in shares of Labcorp by 7.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after acquiring an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock worth $38,320,000 after acquiring an additional 1,816 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Labcorp by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after acquiring an additional 43,509 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of Labcorp by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after acquiring an additional 401,808 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Up 1.9%

Shares of NYSE:LH opened at $252.81 on Friday. The stock has a market capitalization of $21.01 billion, a PE ratio of 24.83, a P/E/G ratio of 1.59 and a beta of 0.89. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The firm has a fifty day moving average price of $277.30 and a 200 day moving average price of $260.80. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. Labcorp’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a $0.72 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 28.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Truist Financial set a $320.00 target price on shares of Labcorp in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $295.54.

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.