2,441 Shares in Labcorp Holdings Inc. (NYSE:LH) Acquired by Stevens Capital Management LP

Key Points

• Stevens Capital Management LP purchased 2,441 shares of Labcorp Holdings Inc. for approximately $568,000, indicating interest from institutional investors in the medical research company.
• Labcorp recently declared a quarterly dividend of $0.72 per share, with an annualized yield of 1.08% and a payout ratio of 33.29%.
• Equity research analysts have varied opinions on Labcorp, with price targets ranging from $260.00 to $283.00 and an overall consensus rating of "Moderate Buy."

Stevens Capital Management LP bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,441 shares of the medical research company's stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in LH. Brighton Jones LLC acquired a new stake in shares of Labcorp during the fourth quarter worth about $991,000. LPL Financial LLC increased its position in Labcorp by 63.8% in the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock valued at $14,343,000 after acquiring an additional 24,357 shares during the period. TIAA Trust National Association increased its position in Labcorp by 2.0% in the 4th quarter. TIAA Trust National Association now owns 3,787 shares of the medical research company's stock valued at $868,000 after acquiring an additional 75 shares during the period. Graney & King LLC acquired a new position in Labcorp in the 4th quarter valued at about $26,000. Finally, Korea Investment CORP increased its position in Labcorp by 36.0% in the 4th quarter. Korea Investment CORP now owns 37,058 shares of the medical research company's stock valued at $8,498,000 after acquiring an additional 9,800 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Price Performance

Shares of NYSE:LH traded up $0.30 during trading on Tuesday, hitting $262.18. 167,844 shares of the stock were exchanged, compared to its average volume of 739,716. The company has a fifty day moving average price of $254.66 and a two-hundred day moving average price of $244.88. The company has a market cap of $21.94 billion, a PE ratio of 28.94, a P/E/G ratio of 1.66 and a beta of 0.82. 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 12-month low of $209.38 and a 12-month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly 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. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.94 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. Labcorp's dividend payout ratio is currently 31.79%.

Insider Activity

In related news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares in the company, valued at $2,426,480. The trade was a 28.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,105 shares of Labcorp stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the transaction, the chief executive officer owned 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,334 shares of company stock worth $3,908,714. 0.84% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LH. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. Piper Sandler restated a "neutral" rating and issued a $280.00 price target (up previously from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Redburn Atlantic began coverage on Labcorp in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price target on the stock. Finally, Evercore ISI boosted their price target on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and a consensus target price of $285.00.

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.