Sequoia Financial Advisors LLC Has $41.36 Million Holdings in Labcorp Holdings Inc. $LH

Sequoia Financial Advisors LLC decreased its position in Labcorp Holdings Inc. (NYSE:LH) by 1.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 144,085 shares of the medical research company’s stock after selling 1,892 shares during the period. Sequoia Financial Advisors LLC’s holdings in Labcorp were worth $41,361,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Labcorp by 7.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after buying an additional 11,262 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Labcorp by 224.1% in the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after acquiring an additional 684,153 shares during the last quarter. Franklin Resources Inc. lifted its position in Labcorp by 3.1% in the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after acquiring an additional 1,043 shares in the last quarter. Equitable Trust Co. boosted its stake in Labcorp by 3.5% during the 2nd quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock valued at $20,325,000 after purchasing an additional 2,644 shares during the last quarter. Finally, Osaic Holdings Inc. increased its holdings in Labcorp by 13.8% during the 2nd quarter. Osaic Holdings Inc. now owns 38,620 shares of the medical research company’s stock worth $10,025,000 after purchasing an additional 4,690 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LH has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Barclays boosted their price target on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Truist Financial set a $320.00 price target on Labcorp in a research report on Tuesday, October 14th. Finally, Mizuho boosted their price objective on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $299.77.

Labcorp Trading Up 0.7%

Shares of LH stock opened at $270.90 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The company’s fifty day simple moving average is $260.02 and its two-hundred day simple moving average is $265.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. The stock has a market capitalization of $22.46 billion, a price-to-earnings ratio of 26.61, a PEG ratio of 1.71 and a beta of 1.00.

Labcorp (NYSE:LH) last released its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the company posted $3.50 EPS. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, February 27th. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Insider Activity at Labcorp

In other news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This represents a 6.16% 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, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.