Labcorp Holdings Inc. $LH Shares Sold by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. lessened its stake in Labcorp Holdings Inc. (NYSE:LH) by 6.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,145 shares of the medical research company’s stock after selling 75 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Labcorp were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LH. GAMMA Investing LLC boosted its holdings in shares of Labcorp by 37,334.2% in the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock valued at $188,450,000 after purchasing an additional 807,539 shares during the last quarter. Select Equity Group L.P. boosted its holdings in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after purchasing an additional 624,099 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after purchasing an additional 318,865 shares during the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Labcorp by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock valued at $181,819,000 after purchasing an additional 280,011 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after purchasing an additional 250,486 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LH. HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Robert W. Baird set a $311.00 target price on shares of Labcorp in a report on Monday, August 25th. Truist Financial lifted their target price on shares of Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a report on Friday, July 25th. UBS Group lifted their target price on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, Morgan Stanley lifted their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Stock Performance

Labcorp stock opened at $280.87 on Friday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47. The company has a market capitalization of $23.34 billion, a price-to-earnings ratio of 31.00, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. 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 firm’s fifty day moving average price is $271.17 and its 200 day moving average price is $252.97.

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

Labcorp Dividend Announcement

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

Insider Activity

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp 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 sale, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. The trade was a 63.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp 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 sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,546 shares of company stock worth $4,207,192. Corporate insiders own 0.84% of the company’s stock.

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.