Labcorp Holdings Inc. $LH Holdings Boosted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Labcorp Holdings Inc. by 1.7%, owning approximately 1.12% of the company valued at $218 million.
• Labcorp's latest quarterly earnings exceeded expectations, reporting $4.35 EPS against an estimate of $4.14, with revenue rising 9.6% year-over-year to $3.53 billion.
• The company recently announced a quarterly dividend of $0.72 per share, which equates to an annualized dividend yield of 1.1% and a payout ratio of 31.79%.

American Century Companies Inc. lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 936,775 shares of the medical research company's stock after purchasing an additional 15,591 shares during the period. American Century Companies Inc. owned about 1.12% of Labcorp worth $218,025,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Ethic Inc. lifted its position in shares of Labcorp by 31.3% during the first quarter. Ethic Inc. now owns 3,349 shares of the medical research company's stock worth $779,000 after purchasing an additional 798 shares during the last quarter. Aberdeen Group plc lifted its holdings in Labcorp by 3.3% in the first quarter. Aberdeen Group plc now owns 71,022 shares of the medical research company's stock worth $16,252,000 after acquiring an additional 2,295 shares during the last quarter. Horizon Investments LLC lifted its holdings in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after acquiring an additional 48 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in Labcorp by 6.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 2,008 shares of the medical research company's stock worth $467,000 after acquiring an additional 126 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in Labcorp by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after acquiring an additional 280,011 shares during the last quarter. 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 Labcorp stock in a transaction that occurred 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 in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,046 shares of company stock valued at $4,831,192 in the last 90 days. 0.84% of the stock is owned by corporate insiders.

Labcorp Price Performance

Shares of NYSE LH traded up $0.2450 during mid-day trading on Thursday, reaching $278.3450. 106,142 shares of the company traded hands, compared to its average volume of 719,673. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The firm has a market cap of $23.13 billion, a PE ratio of 30.73, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. The stock has a fifty day simple moving average of $260.53 and a 200-day simple moving average of $247.66.

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

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's dividend payout ratio (DPR) is 31.79%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Truist Financial raised their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Robert W. Baird lifted their price target on Labcorp from $290.00 to $302.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $289.58.

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.