Vanguard Group Inc. Raises Stake in Labcorp Holdings Inc. $LH

Vanguard Group Inc. boosted its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 1.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,879,225 shares of the medical research company’s stock after buying an additional 156,717 shares during the quarter. Vanguard Group Inc. owned 11.89% of Labcorp worth $2,593,395,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in LH. Harbor Asset Planning Inc. acquired a new position in Labcorp during the second quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new stake in Labcorp during the 2nd quarter worth about $26,000. Creative Financial Designs Inc. ADV lifted its holdings in shares of Labcorp by 392.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after buying an additional 110 shares during the period. Atlantic Private Wealth LLC acquired a new position in shares of Labcorp in the 1st quarter valued at about $36,000. Finally, REAP Financial Group LLC boosted its stake in shares of Labcorp by 193.0% in the second quarter. REAP Financial Group LLC now owns 167 shares of the medical research company’s stock worth $44,000 after buying an additional 110 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the completion of the transaction, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction dated 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 owned 2,469 shares in the company, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Morgan Stanley boosted 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. JPMorgan Chase & Co. increased their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Mizuho lifted their price objective on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Robert W. Baird set a $304.00 target price on shares of Labcorp in a research note on Wednesday, October 29th. Twelve 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 $297.07.

Labcorp Stock Performance

Shares of LH opened at $261.74 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The stock has a market capitalization of $21.70 billion, a PE ratio of 25.71, a PEG ratio of 1.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The stock has a 50-day simple moving average of $272.04 and a 200-day simple moving average of $264.04.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the firm earned $3.50 earnings per share. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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