Rehmann Capital Advisory Group Increases Stock Position in Labcorp Holdings Inc. $LH

Rehmann Capital Advisory Group boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 5.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,175 shares of the medical research company’s stock after buying an additional 175 shares during the quarter. Rehmann Capital Advisory Group’s holdings in Labcorp were worth $833,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its position in shares of 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 purchasing an additional 40 shares in the last quarter. Highland Capital Management LLC lifted its position in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after purchasing an additional 40 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after purchasing an additional 45 shares in the last quarter. Tempus Wealth Planning LLC lifted its position in shares of Labcorp by 2.0% during the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after purchasing an additional 45 shares in the last quarter. Finally, Horizon Investments LLC lifted its position in shares of Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LH shares. HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. UBS Group raised their target price on shares of Labcorp from $305.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 17th. Mizuho raised 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, October 17th. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Finally, Evercore ISI raised their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.46.

Labcorp Stock Performance

Shares of LH opened at $282.81 on Thursday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The firm has a market cap of $23.50 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. The company’s 50 day simple moving average is $278.16 and its 200-day simple moving average is $258.72. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates 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 last year, the firm posted $3.94 earnings per share. As a group, equities analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

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

Insider Activity at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,546 shares of company stock worth $3,094,692 in the last three months. 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.