Vise Technologies Inc. Acquires New Position in Labcorp Holdings Inc. $LH

Vise Technologies Inc. bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,835 shares of the medical research company’s stock, valued at approximately $482,000.

A number of other large investors have also recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Labcorp by 7.7% during the 2nd 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 in the last quarter. Vontobel Holding Ltd. grew its position in Labcorp by 7.9% in the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after acquiring an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Labcorp by 1.3% during the second quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock worth $38,320,000 after acquiring an additional 1,816 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Labcorp by 12.7% in the second quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after acquiring an additional 1,507 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Labcorp by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after purchasing an additional 43,509 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Buying and Selling

In other news, Director Richelle P. Parham sold 7,009 shares of the company’s 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 approximately $627,817.32. This represents a 73.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Performance

NYSE LH opened at $266.81 on Friday. The company has a market capitalization of $22.12 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 1.59 and a beta of 0.91. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The stock has a fifty day simple moving average of $273.33 and a 200 day simple moving average of $263.69.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 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 firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $3.50 EPS. The business’s revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

Wall Street Analyst Weigh In

LH has been the subject of several research reports. Morgan Stanley increased their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Robert W. Baird set a $304.00 price target on Labcorp in a research note on Wednesday, October 29th. UBS Group cut their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, Truist Financial set a $320.00 price target on Labcorp in a research note on Tuesday, October 14th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Labcorp has an average rating of “Moderate Buy” and a consensus price target of $297.07.

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.