Oak Associates Ltd. OH Grows Stake in Labcorp Holdings Inc. $LH

Oak Associates Ltd. OH increased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 4.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 66,352 shares of the medical research company’s stock after acquiring an additional 2,788 shares during the quarter. Labcorp comprises approximately 1.1% of Oak Associates Ltd. OH’s investment portfolio, making the stock its 26th largest holding. Oak Associates Ltd. OH’s holdings in Labcorp were worth $17,418,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in LH. Advisors Asset Management Inc. lifted its position in shares of Labcorp by 19.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,734 shares of the medical research company’s stock worth $1,243,000 after buying an additional 770 shares during the last quarter. Southeast Asset Advisors LLC lifted its position in Labcorp by 0.7% in the second quarter. Southeast Asset Advisors LLC now owns 12,430 shares of the medical research company’s stock valued at $3,263,000 after acquiring an additional 84 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Labcorp by 6.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 674,157 shares of the medical research company’s stock valued at $176,973,000 after acquiring an additional 39,380 shares in the last quarter. AlphaCore Capital LLC acquired a new stake in shares of Labcorp during the second quarter worth about $774,000. Finally, Mufg Securities Americas Inc. increased its position in shares of Labcorp by 25.7% during the second quarter. Mufg Securities Americas Inc. now owns 1,855 shares of the medical research company’s stock worth $487,000 after purchasing an additional 379 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Robert W. Baird set a $304.00 price objective on Labcorp in a report on Wednesday, October 29th. Mizuho raised their target price on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $297.07.

Insider Activity

In related news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the sale, the director owned 2,469 shares in the company, valued at $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by company insiders.

Labcorp Price Performance

Shares of LH opened at $265.54 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $271.60 and its two-hundred day moving average is $264.56. The firm has a market capitalization of $22.01 billion, a PE ratio of 26.08, a P/E/G ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.Labcorp’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter 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. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business 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 dividend of $0.72 per share. 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 1.1%. Labcorp’s dividend payout ratio is 28.29%.

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.