Labcorp Holdings Inc. $LH Position Trimmed by Brandes Investment Partners LP

Brandes Investment Partners LP decreased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 57.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,647 shares of the medical research company’s stock after selling 279,196 shares during the period. Brandes Investment Partners LP’s holdings in Labcorp were worth $53,986,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock valued at $41,537,000 after buying an additional 11,262 shares during the period. Aberdeen Group plc boosted its stake in shares of Labcorp by 5.1% during the 2nd quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock valued at $19,589,000 after buying an additional 3,599 shares during the period. Vontobel Holding Ltd. grew its holdings in shares of Labcorp by 7.9% during the 2nd 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 in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Labcorp by 1.3% during 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. increased 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 hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LH shares. Mizuho lifted their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Barclays raised their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Robert W. Baird set a $304.00 price target on Labcorp in a research note on Wednesday, October 29th. JPMorgan Chase & Co. increased their price objective on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Truist Financial set a $320.00 price objective on shares of Labcorp in a research report on Tuesday, October 14th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $297.07.

Labcorp Stock Down 0.4%

Shares of LH stock opened at $267.76 on Tuesday. The stock’s 50 day simple moving average is $270.80 and its 200 day simple moving average is $265.31. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The company has a market capitalization of $22.20 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 1.59 and a beta of 0.91.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping 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 quarter in the prior year, the business 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. As a group, research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the business’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 completion of the transaction, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. The trade was a 73.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were 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 $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.84% of the company’s stock.

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.