Mitsubishi UFJ Trust & Banking Corp Has $9.80 Million Stake in Labcorp Holdings Inc. $LH

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 8.4% in the 2nd quarter, Holdings Channel reports. The firm owned 37,329 shares of the medical research company’s stock after selling 3,417 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Labcorp were worth $9,799,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Harbor Asset Planning Inc. bought a new position in shares of Labcorp during the second quarter worth about $25,000. Larson Financial Group LLC boosted its holdings in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 73 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in Labcorp by 392.9% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 110 shares during the period. Atlantic Private Wealth LLC bought a new position in Labcorp during the 1st quarter worth approximately $36,000. Finally, REAP Financial Group LLC raised its holdings in 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 during the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Mizuho upped their price target 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. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Evercore ISI boosted 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. Finally, Truist Financial set a $320.00 target price on Labcorp in a research note on Tuesday, October 14th. Twelve equities 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.com, the company has an average rating of “Moderate Buy” and an average price target of $297.07.

Insider Activity at Labcorp

In other news, CEO Adam H. Schechter sold 5,745 shares of the company’s 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 transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the transaction, the director owned 2,469 shares in the company, valued at approximately $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. Insiders own 0.84% of the company’s stock.

Labcorp Price Performance

Shares of NYSE LH opened at $266.81 on Monday. The firm has a market capitalization of $22.12 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.59 and a beta of 0.91. The firm’s 50-day moving average price is $273.33 and its 200-day moving average price is $263.85. 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 Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

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

Labcorp Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 1.1%. Labcorp’s payout ratio is currently 28.29%.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.