Chevy Chase Trust Holdings LLC Purchases 393 Shares of Labcorp Holdings Inc. $LH

Chevy Chase Trust Holdings LLC increased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,958 shares of the medical research company’s stock after acquiring an additional 393 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Labcorp worth $12,589,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after acquiring an additional 40 shares in the last quarter. Highland Capital Management LLC raised its holdings in Labcorp by 0.3% in the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after buying an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings 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 worth $778,000 after buying an additional 45 shares during the last quarter. Tempus Wealth Planning LLC raised its holdings in Labcorp by 2.0% in the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after buying an additional 45 shares during the last quarter. Finally, Horizon Investments LLC raised its holdings in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after buying an additional 48 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Labcorp

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. This trade represents a 28.77% 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 the firm’s stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,046 shares of company stock valued at $4,074,692. Insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $285.66 on Monday. The firm has a fifty day moving average price of $277.19 and a 200-day moving average price of $257.90. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market cap of $23.74 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $289.20.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is presently 31.79%.

Analyst Upgrades and Downgrades

LH has been the subject of several recent analyst reports. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Barclays boosted 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. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Truist Financial set a $320.00 price objective on shares of Labcorp in a report on Tuesday, October 14th. Finally, Mizuho upped their target price on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $296.46.

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.