Angeles Wealth Management LLC Makes New Investment in Labcorp Holdings Inc. $LH

Key Points

• Angeles Wealth Management LLC has made a new investment in Labcorp Holdings Inc., purchasing 1,197 shares valued at approximately $314,000 in the second quarter.
• Multiple analysts have raised their price targets for Labcorp, with Truist Financial setting a new target of $320.00, indicating a positive outlook for the stock.
• Labcorp recently announced a quarterly dividend of $0.72 per share, contributing to an annualized dividend yield of 1.0% for investors.

Angeles Wealth Management LLC bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 1,197 shares of the medical research company's stock, valued at approximately $314,000.

A number of other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in Labcorp by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock worth $114,000 after buying an additional 40 shares during the last quarter. Highland Capital Management LLC lifted its holdings in Labcorp by 0.3% during the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company's stock worth $4,022,000 after buying an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in 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 buying an additional 45 shares during the last quarter. Tempus Wealth Planning LLC lifted its holdings in Labcorp by 2.0% during the 2nd quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company's stock worth $613,000 after buying an additional 45 shares during the last quarter. Finally, Horizon Investments LLC lifted its holdings in 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 buying an additional 48 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Insiders Place Their Bets

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 in the last quarter. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have commented on LH. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday. Robert W. Baird set a $311.00 price target on Labcorp in a research report on Monday, August 25th. Morgan Stanley increased their price target on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. UBS Group increased their price target on Labcorp from $305.00 to $325.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Mizuho increased their price target on Labcorp from $285.00 to $320.00 and gave the stock an "outperform" rating in a research report on Friday. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $296.46.

Labcorp Stock Up 0.7%

LH opened at $285.66 on Friday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20. 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 $23.74 billion, a P/E ratio of 31.53, a P/E/G ratio of 1.81 and a beta of 0.89. The stock's 50 day moving average price is $277.19 and its 200 day moving average price is $257.58.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS 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 for the quarter, compared to analysts' expectations of $3.49 billion. During the same period last year, the firm earned $3.94 EPS. The firm'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, research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp's dividend payout ratio (DPR) 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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