Choreo LLC Raises Stake in Labcorp Holdings Inc. $LH

Choreo LLC raised its holdings in Labcorp Holdings Inc. (NYSE:LH) by 83.8% during the second quarter, HoldingsChannel reports. The firm owned 5,546 shares of the medical research company’s stock after buying an additional 2,529 shares during the period. Choreo LLC’s holdings in Labcorp were worth $1,456,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Harbor Asset Planning Inc. acquired a new position in Labcorp in the 2nd quarter valued at about $25,000. Financial Gravity Companies Inc. purchased a new position in shares of Labcorp in the 2nd quarter valued at approximately $26,000. Creative Financial Designs Inc. ADV grew its stake in shares of Labcorp by 392.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. Atlantic Private Wealth LLC acquired a new position in shares of Labcorp in the first quarter valued at approximately $36,000. Finally, REAP Financial Group LLC raised its stake in shares of Labcorp by 193.0% during the second quarter. REAP Financial Group LLC now owns 167 shares of the medical research company’s stock worth $44,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insiders Place Their Bets

In other Labcorp 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 owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the firm’s 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 transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Labcorp Stock Up 0.2%

Shares of NYSE LH opened at $268.78 on Friday. The stock has a market capitalization of $22.28 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The firm has a 50-day moving average price of $271.03 and a 200 day moving average price of $265.00. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last issued 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 net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.56 billion. During the same period last year, the company posted $3.50 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s payout ratio is currently 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.