Boston Family Office LLC Acquires Shares of 850 Labcorp Holdings Inc. $LH

Boston Family Office LLC bought a new position in Labcorp Holdings Inc. (NYSE:LH) in the second quarter, HoldingsChannel.com reports. The fund bought 850 shares of the medical research company’s stock, valued at approximately $223,000.

Several other hedge funds have also modified their holdings of LH. Brighton Jones LLC acquired a new position in Labcorp during the 4th quarter worth $991,000. Cetera Investment Advisers increased its stake in shares of Labcorp by 21.0% in the 1st quarter. Cetera Investment Advisers now owns 19,916 shares of the medical research company’s stock valued at $4,635,000 after buying an additional 3,463 shares during the period. Federated Hermes Inc. raised its position in shares of Labcorp by 186.8% during the first quarter. Federated Hermes Inc. now owns 826 shares of the medical research company’s stock worth $192,000 after acquiring an additional 538 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Labcorp by 2.9% during the first quarter. Arkadios Wealth Advisors now owns 2,100 shares of the medical research company’s stock valued at $489,000 after acquiring an additional 59 shares during the period. Finally, TIAA Trust National Association boosted its holdings in Labcorp by 5.7% in the first quarter. TIAA Trust National Association now owns 4,004 shares of the medical research company’s stock valued at $932,000 after acquiring an additional 217 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the sale, the director directly owned 2,469 shares in the company, valued at $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent research reports. Robert W. Baird set a $304.00 price objective on Labcorp in a report on Wednesday, October 29th. Truist Financial set a $320.00 price target on shares of Labcorp in a research note on Tuesday, October 14th. Mizuho raised their price objective on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Twelve investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Price Performance

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 P/E/G ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $270.80 and a 200 day simple moving average of $265.31.

Labcorp (NYSE:LH) last posted its earnings results 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 firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. The company’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. On average, research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently announced 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. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio (DPR) is 28.29%.

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.