Labcorp Holdings Inc. $LH Stock Holdings Lowered by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its holdings in Labcorp Holdings Inc. (NYSE:LH) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 49,675 shares of the medical research company’s stock after selling 5,055 shares during the period. Leeward Investments LLC MA’s holdings in Labcorp were worth $13,040,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vontobel Holding Ltd. increased its position in shares of Labcorp by 7.9% in the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after acquiring an additional 225 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Labcorp by 1.3% in the second quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock worth $38,320,000 after acquiring an additional 1,816 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after acquiring an additional 43,509 shares in the last quarter. Equitable Trust Co. increased its position in shares of Labcorp by 3.5% in the second quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock worth $20,325,000 after acquiring an additional 2,644 shares in the last quarter. Finally, NewEdge Advisors LLC increased its position in shares of Labcorp by 25.2% in the first quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock worth $1,989,000 after acquiring an additional 1,721 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Shares of LH opened at $279.72 on Friday. The company’s 50 day moving average price is $278.60 and its 200 day moving average price is $259.87. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a market capitalization of $23.25 billion, a PE ratio of 30.87, a PEG ratio of 1.79 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.94 earnings per share. Research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s payout ratio is 31.79%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on LH shares. Barclays lifted their target price on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Saturday. UBS Group lifted their target price on shares of Labcorp from $305.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Truist Financial set a $320.00 price objective on shares of Labcorp in a research report on Tuesday, October 14th. Finally, Hsbc Global Res downgraded shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $296.46.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction that occurred 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 completion of the sale, the director owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,546 shares of company stock worth $3,094,692 over the last ninety days. 0.84% of the stock is currently owned by insiders.

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.