11,064 Shares in Labcorp Holdings Inc. $LH Purchased by Caxton Associates LLP

Key Points

• Caxton Associates LLP has purchased 11,064 shares of Labcorp Holdings Inc. valued at approximately $2,575,000, as revealed in a recent SEC filing.
• The CEO of Labcorp, Adam H. Schechter, sold 5,643 shares at an average price of $266.78, resulting in a significant decrease in his ownership stake in the company.
• Labcorp's stock trades with a current price of $276.99, and the company recently announced a quarterly dividend of $0.72 per share to be paid on September 11th.

Caxton Associates LLP purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 11,064 shares of the medical research company's stock, valued at approximately $2,575,000.

Several other hedge funds have also modified their holdings of the business. Wedmont Private Capital raised its holdings in Labcorp by 5.0% during the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after purchasing an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock worth $778,000 after purchasing an additional 45 shares during the last quarter. Horizon Investments LLC raised its holdings in Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after purchasing an additional 48 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in Labcorp by 5.5% during the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after purchasing an additional 49 shares during the last quarter. Finally, Synovus Financial Corp raised its holdings in Labcorp by 3.7% during the first quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock worth $323,000 after purchasing an additional 49 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LH shares. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Labcorp currently has a consensus rating of "Moderate Buy" and an average price target of $290.33.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares in the company, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock worth $4,207,192 over the last ninety days. 0.84% of the stock is owned by insiders.

Labcorp Trading Down 0.6%

Shares of NYSE:LH traded down $1.66 during midday trading on Friday, reaching $278.06. The company's stock had a trading volume of 347,155 shares, compared to its average volume of 434,794. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 30.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.85. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47. The business has a 50 day moving average price of $265.85 and a 200 day moving average price of $251.12.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a $0.72 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.