AlphaQuest LLC Has $949,000 Position in Labcorp Holdings Inc. $LH

Key Points

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AlphaQuest LLC lifted its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 407,800.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,079 shares of the medical research company's stock after buying an additional 4,078 shares during the period. AlphaQuest LLC's holdings in Labcorp were worth $949,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Freestone Grove Partners LP bought a new stake in shares of Labcorp in the fourth quarter valued at about $48,693,000. Brighton Jones LLC bought a new stake in shares of Labcorp in the fourth quarter valued at about $991,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Labcorp by 84.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,182 shares of the medical research company's stock valued at $8,421,000 after buying an additional 16,574 shares during the period. Wahed Invest LLC lifted its stake in shares of Labcorp by 5.3% in the fourth quarter. Wahed Invest LLC now owns 2,147 shares of the medical research company's stock valued at $492,000 after buying an additional 108 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in shares of Labcorp by 1.8% in the first quarter. Wealthfront Advisers LLC now owns 6,565 shares of the medical research company's stock valued at $1,528,000 after buying an additional 114 shares during the period. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

Shares of NYSE LH traded up $2.30 during mid-day trading on Tuesday, hitting $278.41. 449,090 shares of the stock were exchanged, compared to its average volume of 531,874. The company has a market cap of $23.14 billion, a P/E ratio of 30.73, a PEG ratio of 1.77 and a beta of 0.78. The stock's fifty day simple moving average is $261.80 and its two-hundred day simple moving average is $248.48. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47.

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 for the quarter, topping the consensus estimate of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a dividend of $0.72 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Analysts Set New Price Targets

LH has been the subject of several research reports. Evercore ISI increased their target price on shares of Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Morgan Stanley increased their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Nine investment 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $290.33.

Insider Activity at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,046 shares of company stock valued at $4,831,192. Insiders own 0.84% of the company's stock.

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.