Apollon Wealth Management LLC Decreases Stock Holdings in Labcorp Holdings Inc. $LH

Apollon Wealth Management LLC decreased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 807 shares of the medical research company’s stock after selling 260 shares during the period. Apollon Wealth Management LLC’s holdings in Labcorp were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its position in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. purchased a new position in shares of Labcorp during the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC purchased a new position in shares of Labcorp during the 1st quarter valued at approximately $28,000. Larson Financial Group LLC lifted its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Labcorp during the 1st quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on LH. Evercore ISI increased their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research note on Thursday, July 10th. UBS Group increased their price objective on Labcorp from $305.00 to $325.00 and gave the company a “buy” rating in a research note on Friday. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Finally, Mizuho increased their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $296.46.

Labcorp Stock Up 0.7%

Shares of LH opened at $285.66 on Monday. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20. The company has a market capitalization of $23.74 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The stock has a fifty day simple moving average of $277.19 and a two-hundred day simple moving average of $257.90. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last released its quarterly 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. The business had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $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 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is currently 31.79%.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by company insiders.

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.