4,201 Shares in Labcorp Holdings Inc. (NYSE:LH) Acquired by Friedenthal Financial

Friedenthal Financial acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 4,201 shares of the medical research company's stock, valued at approximately $978,000.

Several other institutional investors also recently bought and sold shares of LH. Graney & King LLC bought a new position in Labcorp during the 4th quarter valued at $26,000. Heck Capital Advisors LLC acquired a new stake in shares of Labcorp in the 4th quarter worth about $44,000. SBI Securities Co. Ltd. acquired a new stake in shares of Labcorp in the 4th quarter worth about $52,000. Deseret Mutual Benefit Administrators increased its holdings in shares of Labcorp by 28.2% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 232 shares of the medical research company's stock worth $53,000 after acquiring an additional 51 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Labcorp in the 4th quarter worth about $55,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Labcorp stock opened at $261.56 on Thursday. The company has a market cap of $21.89 billion, a PE ratio of 30.24, a PEG ratio of 1.64 and a beta of 0.81. The company's 50-day moving average is $242.69 and its two-hundred day moving average is $239.91. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 1 year low of $198.96 and a 1 year high of $264.03.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. Labcorp's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $3.68 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were paid 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 33.29%.

Analyst Ratings Changes

A number of research firms recently weighed in on LH. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Redburn Atlantic assumed coverage on shares of Labcorp in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. Truist Financial increased their target price on shares of Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Morgan Stanley increased their target price on shares of Labcorp from $270.00 to $283.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen cut shares of Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Labcorp has a consensus rating of "Moderate Buy" and a consensus target price of $274.00.

Insider Transactions at Labcorp

In other Labcorp news, EVP Amy B. Summy sold 758 shares of Labcorp stock in a transaction on Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the transaction, the executive vice president now directly owns 5,302 shares of the company's stock, valued at $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of Labcorp stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total transaction of $130,000.00. Following the transaction, the director now directly owns 12,666 shares of the company's stock, valued at approximately $3,293,160. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,092 shares of company stock valued at $2,971,820 in the last ninety days. 0.84% of the stock is currently owned by corporate 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.

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