AG2R LA Mondiale Gestion D Actifs Acquires 743 Shares of Labcorp Holdings Inc. $LH

AG2R LA Mondiale Gestion D Actifs raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 16.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,335 shares of the medical research company’s stock after buying an additional 743 shares during the period. AG2R LA Mondiale Gestion D Actifs’ holdings in Labcorp were worth $1,400,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Vontobel Holding Ltd. grew its holdings 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 purchasing an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in 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 buying an additional 1,816 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Labcorp by 2.2% in the 2nd 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. lifted its position in Labcorp by 3.5% during the second quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock valued at $20,325,000 after buying an additional 2,644 shares during the period. Finally, NewEdge Advisors LLC lifted its position in Labcorp by 25.2% during the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock valued at $1,989,000 after acquiring an additional 1,721 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LH. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Saturday. Evercore ISI upped their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Finally, Truist Financial set a $320.00 target price on Labcorp in a research report on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $296.46.

Labcorp Stock Performance

NYSE:LH opened at $279.72 on Friday. The stock’s fifty day moving average is $278.60 and its 200 day moving average is $259.87. The firm 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 Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72.

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

Labcorp Announces Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is presently 31.79%.

Insider Transactions at Labcorp

In other news, 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 approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction 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 sale, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at approximately $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 three months, insiders have sold 11,546 shares of company stock valued at $3,094,692. 0.84% of the stock is currently owned by company insiders.

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.