Handelsbanken Fonder AB Reduces Stock Position in Labcorp Holdings Inc. $LH

Handelsbanken Fonder AB cut its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 4.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 18,188 shares of the medical research company’s stock after selling 834 shares during the quarter. Handelsbanken Fonder AB’s holdings in Labcorp were worth $4,775,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new stake in Labcorp during the second quarter valued at $25,000. Financial Gravity Companies Inc. bought a new stake in shares of Labcorp during the 2nd quarter valued at about $26,000. Creative Financial Designs Inc. ADV increased its position in shares of 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 last quarter. Atlantic Private Wealth LLC purchased a new stake in shares of Labcorp during the 1st quarter valued at about $36,000. Finally, REAP Financial Group LLC lifted its stake in shares of Labcorp by 193.0% in 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 period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Labcorp

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

Labcorp Trading Down 0.0%

Labcorp stock opened at $265.54 on Tuesday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The firm’s 50 day moving average price is $271.60 and its 200-day moving average price is $264.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. The stock has a market cap of $22.01 billion, a P/E ratio of 26.08, 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, beating the consensus estimate of $4.13 by $0.05. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. Labcorp’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, equities analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company 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 28.29%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Evercore ISI boosted their price target on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Barclays raised their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Finally, Truist Financial set a $320.00 target price on shares of Labcorp in a report on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.