Labcorp Holdings Inc. $LH Shares Acquired by Marietta Wealth Management LLC

Marietta Wealth Management LLC raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,374 shares of the medical research company’s stock after purchasing an additional 819 shares during the period. Marietta Wealth Management LLC’s holdings in Labcorp were worth $7,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. acquired a new position in Labcorp during the first quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp during the first quarter worth approximately $28,000. Larson Financial Group LLC increased its position in Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Labcorp during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction 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 transaction, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.

Labcorp Price Performance

Shares of LH stock opened at $276.56 on Friday. The company has a market capitalization of $22.98 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89. The firm has a fifty day simple moving average of $273.70 and a 200-day simple moving average of $254.54. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $289.20.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the firm earned $3.94 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s dividend payout ratio is 31.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on LH. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. UBS Group increased their price objective on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Robert W. Baird set a $311.00 target price on shares of Labcorp in a research note on Monday, August 25th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Saturday, September 27th. Finally, HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and an average target price of $292.00.

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.