Scotia Capital Inc. Has $17.33 Million Holdings in Labcorp Holdings Inc. $LH

Scotia Capital Inc. cut its stake in Labcorp Holdings Inc. (NYSE:LH) by 39.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,028 shares of the medical research company’s stock after selling 42,958 shares during the period. Scotia Capital Inc. owned approximately 0.08% of Labcorp worth $17,333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LH. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp in the second quarter valued at about $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp in the 2nd quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV lifted its position in shares of Labcorp by 392.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock worth $36,000 after acquiring an additional 110 shares during the period. Atlantic Private Wealth LLC acquired a new stake in shares of Labcorp during the 1st quarter worth approximately $36,000. Finally, REAP Financial Group LLC grew its holdings in shares of Labcorp by 193.0% during the 2nd quarter. REAP Financial Group LLC now owns 167 shares of the medical research company’s stock worth $44,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 0.2%

Shares of NYSE LH opened at $268.78 on Friday. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The business has a fifty day moving average of $271.03 and a two-hundred day moving average of $264.90. The stock has a market cap of $22.28 billion, a PE ratio of 26.40, a PEG ratio of 1.59 and a beta of 0.91.

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

Labcorp Announces Dividend

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

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 87,574 shares in the company, valued at $23,010,068.50. This represents a 6.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction on 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 sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LH shares. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Robert W. Baird set a $304.00 price target on shares of Labcorp in a report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Mizuho lifted their target price on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Truist Financial set a $320.00 target price on shares of Labcorp in a research note on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $297.07.

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.