Labcorp Holdings Inc. $LH Shares Purchased by Ameriprise Financial Inc.

Key Points

• Ameriprise Financial Inc. increased its stake in Labcorp Holdings Inc. by 5.9%, owning 204,853 shares worth approximately $47.7 million as of the latest SEC filing.
• Labcorp's quarterly earnings report showed an EPS of $4.35, exceeding estimates, and the company set a FY 2025 EPS guidance between $16.050 and $16.500.
• The company declared a quarterly dividend of $0.72 per share, with an ex-dividend date of August 28th, representing an annual yield of 1.0%.

Ameriprise Financial Inc. grew its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 204,853 shares of the medical research company's stock after acquiring an additional 11,479 shares during the period. Ameriprise Financial Inc. owned about 0.24% of Labcorp worth $47,677,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LH. Wedmont Private Capital raised its position in shares of Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after purchasing an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock worth $778,000 after purchasing an additional 45 shares during the last quarter. Horizon Investments LLC raised its position in shares of Labcorp by 4.2% during the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after purchasing an additional 48 shares during the last quarter. Cidel Asset Management Inc. raised its position in shares of Labcorp by 5.5% during the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after purchasing an additional 49 shares during the last quarter. Finally, Resonant Capital Advisors LLC raised its position in shares of Labcorp by 1.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock worth $813,000 after purchasing an additional 51 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Up 1.0%

LH traded up $2.78 during trading on Friday, hitting $278.07. The company's stock had a trading volume of 379,936 shares, compared to its average volume of 483,274. The firm's 50 day moving average price is $262.75 and its 200-day moving average price is $249.21. 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 stock has a market cap of $23.11 billion, a PE ratio of 30.69, a PEG ratio of 1.78 and a beta of 0.85. 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 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 company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the firm posted $3.94 EPS. Labcorp'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. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid 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 payout ratio is currently 31.79%.

Insider Activity at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, the executive vice president directly owned 2,274 shares of the company's stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares of the company's stock, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on LH shares. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" 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 price objective for the company. in a research report on Thursday, July 10th. Truist Financial boosted their price target on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

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.