Labcorp Holdings Inc. $LH Stake Reduced by Cerity Partners LLC

Cerity Partners LLC cut its stake in Labcorp Holdings Inc. (NYSE:LH) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 78,384 shares of the medical research company’s stock after selling 4,085 shares during the period. Cerity Partners LLC’s holdings in Labcorp were worth $22,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new stake in shares of Labcorp in the second quarter valued at approximately $25,000. Caldwell Trust Co acquired a new position in Labcorp during the 2nd quarter worth $25,000. Financial Gravity Companies Inc. bought a new position in shares of Labcorp in the second quarter worth $26,000. Motco acquired a new position in shares of Labcorp during the third quarter valued at $32,000. Finally, Headlands Technologies LLC raised its stake in shares of Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after purchasing an additional 96 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Trading Down 1.1%

Shares of LH opened at $251.81 on Friday. The business’s 50-day moving average price is $259.11 and its 200 day moving average price is $265.88. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $20.88 billion, a P/E ratio of 24.74, a P/E/G ratio of 1.60 and a beta of 1.00. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

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

Insider Activity 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 sale, the director directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value 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. The trade was a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LH. JPMorgan Chase & Co. boosted their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial set a $320.00 price objective on Labcorp in a report on Tuesday, October 14th. Robert W. Baird set a $304.00 target price on Labcorp in a report on Wednesday, October 29th. Finally, Weiss Ratings cut shares of Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $299.08.

About Labcorp

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.