3Chopt Investment Partners LLC Purchases Shares of 5,275 Labcorp Holdings Inc. (NYSE:LH)

3Chopt Investment Partners LLC bought a new position in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,275 shares of the medical research company's stock, valued at approximately $1,228,000.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in Labcorp by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock worth $458,334,000 after purchasing an additional 39,255 shares during the period. FMR LLC boosted its position in shares of Labcorp by 2.2% in the fourth quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock valued at $371,688,000 after acquiring an additional 34,429 shares during the period. Select Equity Group L.P. boosted its position in shares of Labcorp by 150.9% in the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after acquiring an additional 959,981 shares during the period. Amundi grew its stake in Labcorp by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock valued at $263,161,000 after acquiring an additional 870,903 shares in the last quarter. Finally, Norges Bank purchased a new stake in Labcorp in the 4th quarter worth approximately $239,811,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

Shares of LH stock traded up $3.32 during trading hours on Friday, hitting $260.30. 1,016,405 shares of the company's stock were exchanged, compared to its average volume of 639,223. The company has a market capitalization of $21.79 billion, a PE ratio of 30.09, a PEG ratio of 1.63 and a beta of 0.81. 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 12-month low of $198.96 and a 12-month high of $264.03. The business's 50 day simple moving average is $248.19 and its 200-day simple moving average is $241.06.

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

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.11%. Labcorp's payout ratio is 33.29%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LH. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price target (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Truist Financial upped their target price on Labcorp from $274.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Redburn Atlantic initiated coverage on Labcorp in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Wall Street Zen cut shares of Labcorp from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays reiterated a "cautious" rating on shares of Labcorp in a research report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.08.

Insiders Place Their Bets

In other news, CAO Peter J. Wilkinson sold 829 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the transaction, the chief accounting officer now owns 2,054 shares in the company, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total transaction of $130,000.00. Following the sale, the director now directly owns 12,666 shares of the company's stock, valued at $3,293,160. The trade was a 3.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,334 shares of company stock valued at $2,796,214 in the last ninety days. Company insiders own 0.84% of the company's stock.

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.