Aberdeen Group plc Purchases 3,599 Shares of Labcorp Holdings Inc. $LH

Key Points

• Aberdeen Group plc increased its holdings in Labcorp Holdings Inc. by 5.1%, acquiring an additional 3,599 shares, bringing its total ownership to 74,621 shares valued at approximately $19.59 million.
• Analyst ratings for Labcorp vary, with Morgan Stanley increasing its target price to $306.00 while HSBC downgraded the stock to a "hold" with a $260.00 target price, reflecting mixed sentiment among equities analysts.
• Labcorp announced a quarterly dividend of $0.72 per share, representing an annualized dividend of $2.88 and a yield of 1.0%, with the ex-dividend date set for November 26th.

Aberdeen Group plc grew its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,621 shares of the medical research company's stock after acquiring an additional 3,599 shares during the quarter. Aberdeen Group plc owned 0.09% of Labcorp worth $19,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its stake in Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after acquiring an additional 52 shares during the last quarter. North Capital Inc. bought a new stake in Labcorp in the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp in the 1st quarter worth approximately $28,000. Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Labcorp during the 1st quarter valued at approximately $31,000. Institutional investors own 95.94% of the company's stock.

Insider Transactions at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research report on Thursday, July 10th. Evercore ISI boosted their target price on Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. Robert W. Baird set a $311.00 target price on Labcorp in a research report on Monday, August 25th. Finally, Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $292.00.

Labcorp Price Performance

LH opened at $276.37 on Tuesday. The business has a fifty day moving average of $275.56 and a 200 day moving average of $256.53. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The stock has a market cap of $22.97 billion, a P/E ratio of 30.50, a PEG ratio of 1.78 and a beta of 0.89.

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

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp's dividend payout ratio is currently 31.79%.

Labcorp Profile

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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