Labcorp Holdings Inc. $LH Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 17.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 119,576 shares of the medical research company’s stock after selling 24,877 shares during the period. Labcorp makes up approximately 1.4% of Birch Hill Investment Advisors LLC’s portfolio, making the stock its 24th largest position. Birch Hill Investment Advisors LLC’s holdings in Labcorp were worth $34,326,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Brighton Jones LLC purchased a new position in shares of Labcorp in the 4th quarter valued at about $991,000. Advisors Asset Management Inc. boosted its position in Labcorp by 6.7% during the first quarter. Advisors Asset Management Inc. now owns 3,964 shares of the medical research company’s stock worth $923,000 after purchasing an additional 248 shares in the last quarter. Integrated Wealth Concepts LLC grew its holdings in Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares during the period. NewEdge Advisors LLC increased its position in shares of Labcorp by 25.2% in the first quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company’s stock valued at $1,989,000 after buying an additional 1,721 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Labcorp by 52.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after buying an additional 121,304 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays boosted their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Truist Financial set a $320.00 target price on Labcorp in a research report on Tuesday, October 14th. Evercore ISI lifted their price target on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Mizuho increased their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $299.08.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the firm’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the director directly owned 2,469 shares in the company, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.

Labcorp Trading Down 2.6%

Shares of LH opened at $253.72 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72. The firm has a 50-day moving average price of $259.12 and a 200 day moving average price of $266.02. The firm has a market capitalization of $21.03 billion, a P/E ratio of 24.92, a P/E/G ratio of 1.64 and a beta of 1.00.

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

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.