Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 1,455 Shares of Labcorp Holdings Inc. $LH

Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,528 shares of the medical research company’s stock after buying an additional 1,455 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Labcorp were worth $5,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Labcorp by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after purchasing an additional 11,262 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Labcorp by 7.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after buying an additional 225 shares in the last quarter. Aberdeen Group plc increased its holdings in shares of Labcorp by 5.1% in the 2nd quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock worth $19,589,000 after buying an additional 3,599 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Labcorp by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after buying an additional 1,816 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Labcorp by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock valued at $3,507,000 after acquiring an additional 1,507 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Labcorp

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the transaction, the director directly owned 2,469 shares in the company, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the sale, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This trade represents a 6.16% 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.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group reduced their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Barclays raised their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Robert W. Baird set a $304.00 price objective on shares of Labcorp in a research report on Wednesday, October 29th. Finally, Morgan Stanley increased their target price 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. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $297.07.

Labcorp Stock Down 2.1%

Shares of LH opened at $261.35 on Tuesday. The firm has a fifty day moving average price of $273.02 and a 200-day moving average price of $263.99. 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 firm has a market capitalization of $21.67 billion, a P/E ratio of 25.67, a P/E/G ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-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, beating analysts’ consensus estimates of $4.13 by $0.05. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the business posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities research analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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