Blueshift Asset Management LLC Has $1.20 Million Stock Position in Labcorp Holdings Inc. $LH

Blueshift Asset Management LLC boosted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 152.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,575 shares of the medical research company’s stock after purchasing an additional 2,764 shares during the period. Blueshift Asset Management LLC’s holdings in Labcorp were worth $1,201,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in LH. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 purchasing an additional 11,262 shares during the last quarter. Aberdeen Group plc lifted its position in Labcorp by 5.1% during the 2nd quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock worth $19,589,000 after buying an additional 3,599 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Labcorp by 7.9% during the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after acquiring an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after acquiring an additional 1,816 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake 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. 95.94% of the stock is owned by institutional investors.

Labcorp Price Performance

Shares of LH opened at $267.76 on Tuesday. The stock has a market cap of $22.20 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The stock’s 50-day moving average price is $270.80 and its two-hundred day moving average price is $265.31. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

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

Labcorp Dividend Announcement

The company also recently declared 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is currently 28.29%.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the sale, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on LH. UBS Group lowered their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Evercore ISI lifted their target price on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Robert W. Baird set a $304.00 price objective on Labcorp in a research report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 price objective on Labcorp in a report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.07.

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.