Resonant Capital Advisors LLC Has $952,000 Holdings in Labcorp Holdings Inc. $LH

Resonant Capital Advisors LLC raised its holdings in Labcorp Holdings Inc. (NYSE:LH) by 3.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,627 shares of the medical research company’s stock after buying an additional 134 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Labcorp were worth $952,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB grew its stake in shares of Labcorp by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock valued at $114,000 after buying an additional 40 shares during the period. Highland Capital Management LLC raised 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 during the period. Dorsey & Whitney Trust CO LLC raised 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 during the period. Tempus Wealth Planning LLC raised 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 during the period. Finally, Horizon Investments LLC raised 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 during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, the executive vice president directly owned 2,274 shares of the company’s stock, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the sale, the director directly owned 6,656 shares of the company’s stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,546 shares of company stock valued at $3,094,692 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

LH has been the topic of a number of research reports. Robert W. Baird set a $311.00 target price on Labcorp in a research report on Monday, August 25th. Evercore ISI upped their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. UBS Group upped their target price on Labcorp from $305.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Hsbc Global Res lowered Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and a consensus price target of $296.46.

Labcorp Price Performance

Labcorp stock opened at $279.72 on Monday. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company’s 50 day moving average price is $278.60 and its two-hundred day moving average price is $260.07. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The stock has a market cap of $23.25 billion, a P/E ratio of 30.87, a P/E/G ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its 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. 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 analysts’ expectations of $3.49 billion. During the same quarter last year, the firm earned $3.94 EPS. The company’s quarterly revenue was up 9.6% compared to the same quarter last year. On average, equities analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current 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 given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

Labcorp Company Profile

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