Blue Trust Inc. Buys 66 Shares of Labcorp Holdings Inc. $LH

Blue Trust Inc. lifted its stake in Labcorp Holdings Inc. (NYSE:LH) by 11.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 637 shares of the medical research company’s stock after buying an additional 66 shares during the quarter. Blue Trust Inc.’s holdings in Labcorp were worth $167,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Select Equity Group L.P. boosted its holdings in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after purchasing an additional 624,099 shares during the period. Invesco Ltd. lifted its holdings in shares of Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after buying an additional 318,865 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of Labcorp by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock worth $181,819,000 after buying an additional 280,011 shares during the period. Alliancebernstein L.P. raised its position in shares of Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock worth $295,950,000 after acquiring an additional 250,486 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Labcorp in the 1st quarter worth $48,193,000. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on LH. Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. UBS Group increased their target price on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Finally, HSBC cut 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. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $292.83.

Labcorp Price Performance

Shares of NYSE:LH opened at $282.53 on Thursday. The business’s 50 day simple moving average is $276.32 and its 200-day simple moving average is $256.87. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 31.18, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal 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 given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is presently 31.79%.

Insider Buying and Selling at Labcorp

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 2,274 shares of the company’s stock, valued at $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock worth $4,074,692 in the last ninety days. Insiders own 0.84% of the company’s stock.

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.