Anchor Investment Management LLC Cuts Position in Labcorp Holdings Inc. $LH

Anchor Investment Management LLC decreased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,016 shares of the medical research company’s stock after selling 50 shares during the period. Anchor Investment Management LLC’s holdings in Labcorp were worth $935,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Wedmont Private Capital raised its holdings in Labcorp by 5.0% in the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock valued at $204,000 after buying an additional 44 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in Labcorp by 1.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock valued at $778,000 after acquiring an additional 45 shares in the last quarter. Horizon Investments LLC grew its position in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock valued at $278,000 after acquiring an additional 48 shares in the last quarter. Cidel Asset Management Inc. grew its position in Labcorp by 5.5% in the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company’s stock valued at $219,000 after acquiring an additional 49 shares in the last quarter. Finally, Synovus Financial Corp grew its position in Labcorp by 3.7% in the first quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company’s stock valued at $323,000 after acquiring an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HSBC downgraded shares of 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. Morgan Stanley increased their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. UBS Group increased their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Evercore ISI increased their price objective on shares of Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Finally, Robert W. Baird set a $311.00 price target on shares of Labcorp in a research report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Stock Down 1.8%

LH stock opened at $273.02 on Thursday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $22.69 billion, a P/E ratio of 30.13, a PEG ratio of 1.78 and a beta of 0.85. The firm has a 50 day simple moving average of $265.17 and a 200-day simple moving average of $250.75.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the company earned $3.94 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp’s payout ratio is currently 31.79%.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares of the company’s stock, valued at $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 15,546 shares of company stock worth $4,207,192. Company insiders own 0.84% of the company’s stock.

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.