Atria Investments Inc Grows Position in Labcorp Holdings Inc. $LH

Atria Investments Inc boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 7.4% during the 2nd quarter, Holdings Channel reports. The firm owned 10,220 shares of the medical research company’s stock after acquiring an additional 701 shares during the quarter. Atria Investments Inc’s holdings in Labcorp were worth $2,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Harbor Asset Planning Inc. purchased a new stake in Labcorp during the 2nd quarter worth approximately $25,000. TruNorth Capital Management LLC purchased a new stake in Labcorp during the 1st quarter worth approximately $28,000. Larson Financial Group LLC grew its position in Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in Labcorp during the 1st quarter worth approximately $31,000. Finally, Atlantic Private Wealth LLC purchased a new stake in shares of Labcorp in the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 1.8%

Shares of Labcorp stock opened at $258.41 on Tuesday. The firm has a 50-day simple moving average of $276.47 and a two-hundred day simple moving average of $261.81. The company has a market cap of $21.47 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. 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 quick ratio of 1.32 and a current ratio of 1.55.

Labcorp (NYSE:LH) last issued its quarterly earnings data 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. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 28.29%.

Analysts Set New Price Targets

LH has been the topic of several recent research reports. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Hsbc Global Res downgraded shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Barclays upped their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $295.54.

Insiders Place Their Bets

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate 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.