11,340 Shares in Labcorp Holdings Inc. $LH Acquired by Dynamic Technology Lab Private Ltd

Key Points

• Dynamic Technology Lab Private Ltd acquired 11,340 shares of Labcorp Holdings Inc., valued at approximately $2.64 million, making it the 27th largest position in their portfolio.
• Labcorp's CEO, Adam H. Schechter, sold 5,643 shares for about $1.51 million, indicating a 5.7% decrease in his ownership of the company.
• Labcorp announced a quarterly dividend of $0.72 per share, with an annualized dividend yield of 1.0%, scheduled for payment on September 11th.

Dynamic Technology Lab Private Ltd bought a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,340 shares of the medical research company's stock, valued at approximately $2,639,000. Labcorp comprises about 0.4% of Dynamic Technology Lab Private Ltd's portfolio, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC bought a new position in shares of Labcorp during the fourth quarter valued at approximately $991,000. Cetera Investment Advisers raised its stake in Labcorp by 8.6% during the 4th quarter. Cetera Investment Advisers now owns 16,453 shares of the medical research company's stock valued at $3,773,000 after purchasing an additional 1,302 shares during the period. Deutsche Bank AG increased its position in Labcorp by 2.0% during the fourth quarter. Deutsche Bank AG now owns 357,588 shares of the medical research company's stock worth $82,002,000 after buying an additional 7,116 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in Labcorp by 9.6% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,390 shares of the medical research company's stock valued at $319,000 after acquiring an additional 122 shares during the period. Finally, Ethic Inc. boosted its holdings in Labcorp by 79.8% during the fourth quarter. Ethic Inc. now owns 2,551 shares of the medical research company's stock valued at $585,000 after acquiring an additional 1,132 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Trading Up 0.2%

Shares of LH traded up $0.53 during mid-day trading on Friday, reaching $280.25. The company's stock had a trading volume of 131,381 shares, compared to its average volume of 693,376. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The company's fifty day moving average price is $265.53 and its two-hundred day moving average price is $250.94. The stock has a market cap of $23.29 billion, a PE ratio of 30.93, a P/E/G ratio of 1.75 and a beta of 0.85.

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

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp's payout ratio is presently 31.79%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LH. Morgan Stanley upped their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Barclays restated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. HSBC cut shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective on the stock. in a research note on Thursday, July 10th. Finally, Robert W. Baird set a $311.00 price target on shares of Labcorp in a research report on Monday, August 25th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $290.33.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,546 shares of company stock valued at $4,207,192 in the last quarter. 0.84% of the stock is owned by insiders.

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.