Allstate Corp Takes $1.04 Million Position in Labcorp Holdings Inc. $LH

Allstate Corp bought a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the 3rd quarter, HoldingsChannel reports. The firm bought 3,637 shares of the medical research company’s stock, valued at approximately $1,044,000.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. acquired a new position in Labcorp in the second quarter worth $25,000. Caldwell Trust Co purchased a new position in shares of Labcorp during the second quarter valued at $25,000. Financial Gravity Companies Inc. purchased a new stake in shares of Labcorp during the second quarter worth $26,000. Motco acquired a new stake in shares of Labcorp in the 3rd quarter valued at $32,000. Finally, Headlands Technologies LLC grew its stake in Labcorp by 300.0% in the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Performance

NYSE:LH opened at $269.12 on Thursday. The company has a market capitalization of $22.31 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.71 and a beta of 1.00. The business has a fifty day simple moving average of $260.31 and a two-hundred day simple moving average of $266.11. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35.

Labcorp (NYSE:LH) last announced its quarterly 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 net margin of 6.21% and a return on equity of 15.85%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the firm posted $3.50 earnings per share. The company’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, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be given 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 Friday, February 27th. Labcorp’s dividend payout ratio is presently 28.29%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, January 10th. Robert W. Baird set a $313.00 price target on Labcorp in a research note on Wednesday, January 14th. Mizuho lifted their price target on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Evercore ISI increased their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Finally, Barclays raised their price target on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and an average price target of $299.77.

Insider Activity

In related news, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction on 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 sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $1,509,498.75. Following the sale, the chief executive officer directly owned 87,574 shares in the company, valued at $23,010,068.50. The trade was a 6.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.84% of the company’s stock.

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.