Xponance Inc. Raises Position in Labcorp Holdings Inc. (NYSE:LH)

Xponance Inc. raised its holdings in Labcorp Holdings Inc. (NYSE:LH) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,195 shares of the medical research company’s stock after buying an additional 195 shares during the period. Xponance Inc.’s holdings in Labcorp were worth $2,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Brighton Jones LLC acquired a new stake in Labcorp during the 4th quarter worth $991,000. Independent Advisor Alliance raised its stake in Labcorp by 25.8% during the 4th quarter. Independent Advisor Alliance now owns 2,544 shares of the medical research company’s stock worth $583,000 after acquiring an additional 521 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Labcorp by 11.1% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 17,975 shares of the medical research company’s stock worth $4,114,000 after acquiring an additional 1,800 shares in the last quarter. Choate Investment Advisors raised its stake in Labcorp by 7.9% during the 4th quarter. Choate Investment Advisors now owns 1,341 shares of the medical research company’s stock worth $308,000 after acquiring an additional 98 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. raised its stake in Labcorp by 5.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 10,069 shares of the medical research company’s stock worth $2,309,000 after acquiring an additional 525 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Up 0.1%

Shares of NYSE:LH opened at $249.77 on Tuesday. The company has a market cap of $20.91 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 1.58 and a beta of 0.82. The firm’s 50-day simple moving average is $253.70 and its 200-day simple moving average is $243.40. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a fifty-two week low of $205.98 and a fifty-two week high of $265.72.

Labcorp (NYSE:LH) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.68 earnings per share. As a group, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.15%. Labcorp’s dividend payout ratio is currently 33.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on LH shares. Evercore ISI lifted their price target on shares of Labcorp from $260.00 to $285.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Redburn Atlantic began coverage on shares of Labcorp in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of Labcorp from $253.00 to $267.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Truist Financial lifted their price objective on shares of Labcorp from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Finally, Wall Street Zen lowered shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $276.38.

Insider Activity

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the transaction, the director owned 12,166 shares of the company’s stock, valued at approximately $3,223,990. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total value of $452,884.00. Following the transaction, the executive vice president directly owned 2,244 shares of the company’s stock, valued at $534,879.84. The trade was a 45.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,834 shares of company stock valued at $2,928,714 in the last quarter. Insiders own 0.84% of the company’s stock.

About Labcorp

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