AQR Capital Management LLC Purchases 12,281 Shares of Labcorp Holdings Inc. $LH

AQR Capital Management LLC lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 163,798 shares of the medical research company's stock after acquiring an additional 12,281 shares during the period. AQR Capital Management LLC owned 0.20% of Labcorp worth $37,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LH. Brighton Jones LLC bought a new stake in Labcorp during the 4th quarter valued at $991,000. Cetera Investment Advisers increased its stake in Labcorp by 8.6% during the 4th quarter. Cetera Investment Advisers now owns 16,453 shares of the medical research company's stock valued at $3,773,000 after purchasing an additional 1,302 shares in the last quarter. Deutsche Bank AG increased its stake in Labcorp by 2.0% during the 4th quarter. Deutsche Bank AG now owns 357,588 shares of the medical research company's stock valued at $82,002,000 after purchasing an additional 7,116 shares in the last quarter. Ethic Inc. increased its stake in Labcorp by 79.8% during the 4th quarter. Ethic Inc. now owns 2,551 shares of the medical research company's stock valued at $585,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Focus Partners Wealth increased its stake in Labcorp by 6.8% during the 4th quarter. Focus Partners Wealth now owns 16,094 shares of the medical research company's stock valued at $3,691,000 after purchasing an additional 1,018 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Performance

NYSE LH traded down $0.38 during trading hours on Friday, reaching $279.34. 67,477 shares of the company were exchanged, compared to its average volume of 692,971. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47. The business's 50 day simple moving average is $265.53 and its 200-day simple moving average is $250.94. 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 market capitalization of $23.21 billion, a P/E ratio of 30.83, a P/E/G ratio of 1.75 and a beta of 0.85.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results 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 firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate 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 company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research analysts expect 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 was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date was 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%.

Insider Buying and Selling at Labcorp

In other 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 shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,546 shares of company stock worth $4,207,192 over the last three months. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LH. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Evercore ISI lifted their target price on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group upped their target price on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Nine equities research 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's stock. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and an average price target of $290.33.

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.