Labcorp Holdings Inc. $LH Position Decreased by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG decreased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 89.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,195 shares of the medical research company’s stock after selling 10,355 shares during the period. J. Safra Sarasin Holding AG’s holdings in Labcorp were worth $314,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC boosted its position in shares of Labcorp by 25.2% during the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock valued at $1,989,000 after purchasing an additional 1,721 shares in the last quarter. Strs Ohio bought a new position in shares of Labcorp during the 1st quarter valued at about $23,639,000. Assenagon Asset Management S.A. boosted its position in shares of Labcorp by 3,009.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 119,958 shares of the medical research company’s stock valued at $31,490,000 after purchasing an additional 116,100 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Labcorp during the 1st quarter valued at about $2,639,000. Finally, Banyan Capital Management Inc. boosted its position in shares of Labcorp by 2.4% during the 2nd quarter. Banyan Capital Management Inc. now owns 39,143 shares of the medical research company’s stock valued at $10,275,000 after purchasing an additional 923 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LH. Morgan Stanley raised 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. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Evercore ISI raised their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group raised their target price on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Saturday, September 27th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $292.00.

Insider Activity at Labcorp

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 8,666 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the firm’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 transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by company insiders.

Labcorp Stock Performance

LH stock opened at $276.56 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The stock has a market cap of $22.98 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.89. The firm has a 50 day simple moving average of $273.70 and a 200 day simple moving average of $254.54. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. The business 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 firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the company posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

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.