Candriam S.C.A. Has $20.17 Million Stake in Labcorp Holdings Inc. $LH

Candriam S.C.A. reduced its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 76,838 shares of the medical research company’s stock after selling 262 shares during the period. Candriam S.C.A. owned 0.09% of Labcorp worth $20,172,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vontobel Holding Ltd. increased its stake 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 acquiring an additional 225 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Labcorp by 12.7% in the second quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after purchasing an additional 1,507 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Labcorp by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after purchasing an additional 11,262 shares during the period. Sequoia Financial Advisors LLC increased 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 valued at $38,320,000 after purchasing an additional 1,816 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Labcorp by 2.2% during the second 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 purchasing an additional 43,509 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Price Performance

LH opened at $267.82 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year 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 company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 1.59 and a beta of 0.91. The firm’s fifty day moving average price is $273.56 and its two-hundred day moving average price is $263.28.

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

Labcorp Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Morgan Stanley raised their price objective on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Robert W. Baird set a $304.00 target price on Labcorp in a research report on Wednesday, October 29th. UBS Group cut their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 price target on shares of Labcorp in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.07.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the transaction, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.