Amalgamated Bank Has $4.36 Million Position in Labcorp Holdings Inc. $LH

Amalgamated Bank grew its position in Labcorp Holdings Inc. (NYSE:LH) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 16,620 shares of the medical research company’s stock after purchasing an additional 317 shares during the quarter. Amalgamated Bank’s holdings in Labcorp were worth $4,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vontobel Holding Ltd. raised its position in shares of Labcorp by 7.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after buying an additional 225 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after buying an additional 1,816 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Labcorp by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock valued at $3,507,000 after buying an additional 1,507 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 valued at $528,739,000 after buying an additional 43,509 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Labcorp by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock valued at $55,154,000 after buying an additional 22,018 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Up 0.8%

LH opened at $254.23 on Monday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. The firm has a market capitalization of $21.13 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 1.59 and a beta of 0.89. The company’s 50 day moving average price is $276.83 and its two-hundred day moving average price is $261.52.

Labcorp (NYSE:LH) last posted its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share 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 firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the firm posted $3.50 EPS. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s payout ratio is presently 28.29%.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at $24,895,642.82. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the sale, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of several analyst reports. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Mizuho lifted their price target on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. UBS Group decreased their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday. Evercore ISI lifted their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Finally, Robert W. Baird set a $304.00 price target on shares of Labcorp in a report on Wednesday. Eleven 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $295.54.

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.