Mutual of America Capital Management LLC Has $2.53 Million Stock Position in Labcorp Holdings Inc. $LH

Mutual of America Capital Management LLC lowered its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,617 shares of the medical research company’s stock after selling 103 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Labcorp were worth $2,525,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LH. Harbor Asset Planning Inc. acquired a new stake in Labcorp in the 2nd quarter valued at approximately $25,000. Golden State Wealth Management LLC grew its holdings in Labcorp by 88.1% in 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 during the last quarter. North Capital Inc. acquired a new stake in Labcorp in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC acquired a new stake in Labcorp in the 1st quarter valued at approximately $28,000. Finally, Larson Financial Group LLC grew its holdings in Labcorp by 140.4% in 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 during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Price Performance

Labcorp stock opened at $279.72 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The company has a market capitalization of $23.25 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72. The business has a 50 day simple moving average of $278.60 and a 200 day simple moving average of $259.57.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp’s revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company earned $3.94 EPS. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is 31.79%.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp 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 completion of the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. The trade was a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,546 shares of company stock worth $3,094,692. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Mizuho raised their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Barclays raised their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Morgan Stanley raised their price objective on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Finally, HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.46.

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.