Alyeska Investment Group L.P. Purchases 70,550 Shares of Labcorp Holdings Inc. $LH

Key Points

• Alyeska Investment Group L.P. increased its stake in Labcorp Holdings Inc. by 15.9%, acquiring 70,550 shares to own a total of 514,828 shares valued at approximately $119.8 million.
• Several institutional investors, including Golden State Wealth Management and Larson Financial Group, made significant adjustments to their holdings, with institutional ownership now comprising 95.94% of Labcorp's stock.
• Labcorp announced a quarterly dividend of $0.72 per share, which will be paid to stockholders on September 11th, representing an annualized dividend of $2.88 and a yield of 1.1%.

Alyeska Investment Group L.P. grew its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 15.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 514,828 shares of the medical research company's stock after purchasing an additional 70,550 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.62% of Labcorp worth $119,821,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LH. Adage Capital Partners GP L.L.C. lifted its stake in Labcorp by 64.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 70,100 shares of the medical research company's stock worth $16,315,000 after acquiring an additional 27,456 shares during the period. EP Wealth Advisors LLC lifted its stake in Labcorp by 20.8% in the first quarter. EP Wealth Advisors LLC now owns 1,606 shares of the medical research company's stock worth $374,000 after acquiring an additional 277 shares during the period. Beck Mack & Oliver LLC lifted its stake in Labcorp by 2.3% in the first quarter. Beck Mack & Oliver LLC now owns 627,018 shares of the medical research company's stock worth $145,932,000 after acquiring an additional 13,986 shares during the period. Quarry LP purchased a new stake in Labcorp in the first quarter worth $528,000. Finally, Vident Advisory LLC lifted its stake in Labcorp by 50.4% in the first quarter. Vident Advisory LLC now owns 2,221 shares of the medical research company's stock worth $517,000 after acquiring an additional 744 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the transaction, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,046 shares of company stock valued at $4,337,192 over the last ninety days. Insiders own 0.84% of the company's stock.

Analyst Ratings Changes

LH has been the subject of a number of research analyst reports. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI raised their price target on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Stock Up 1.2%

Shares of NYSE:LH traded up $3.28 on Friday, hitting $278.51. 279,728 shares of the company traded hands, compared to its average volume of 443,478. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. 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 50 day simple moving average of $264.34 and a 200-day simple moving average of $250.20. The company has a market cap of $23.14 billion, a PE ratio of 30.74, a PEG ratio of 1.78 and a beta of 0.85.

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

Labcorp Dividend Announcement

The business also recently declared 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 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%.

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.