Asset Management One Co. Ltd. Acquires 1,433 Shares of Labcorp Holdings Inc. (NYSE:LH)

Asset Management One Co. Ltd. raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,232 shares of the medical research company's stock after purchasing an additional 1,433 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Labcorp were worth $7,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Labcorp in the 4th quarter worth approximately $239,811,000. Select Equity Group L.P. raised its holdings in shares of Labcorp by 150.9% in the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after buying an additional 959,981 shares in the last quarter. Amundi raised its holdings in shares of Labcorp by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after buying an additional 870,903 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Labcorp by 37,334.2% in the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock worth $188,450,000 after buying an additional 807,539 shares in the last quarter. Finally, Madison Investment Advisors LLC acquired a new position in shares of Labcorp in the 4th quarter worth approximately $123,415,000. 95.94% of the stock is currently owned by institutional investors.

Insider Transactions at Labcorp

In other news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total value of $130,000.00. Following the transaction, the director now directly owns 12,666 shares in the company, valued at $3,293,160. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 6,105 shares of the firm's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the transaction, the chief executive officer now owns 98,962 shares in the company, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,334 shares of company stock worth $2,796,214 in the last three months. Insiders own 0.84% of the company's stock.

Labcorp Trading Up 1.3%

Shares of NYSE LH traded up $3.32 during midday trading on Friday, hitting $260.30. The stock had a trading volume of 1,016,405 shares, compared to its average volume of 639,223. The company's 50-day simple moving average is $248.19 and its 200 day simple moving average is $241.06. The firm has a market cap of $21.79 billion, a P/E ratio of 30.09, a price-to-earnings-growth ratio of 1.63 and a beta of 0.81. Labcorp Holdings Inc. has a fifty-two week low of $198.96 and a fifty-two week high of $264.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the business posted $3.68 earnings per share. Labcorp's revenue was up 5.3% compared to the same quarter last year. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were given a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.11%. Labcorp's dividend payout ratio is currently 33.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on LH shares. Redburn Atlantic started coverage on Labcorp in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Truist Financial raised their price target on Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a report on Monday, May 12th. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a report on Wednesday. Finally, Wall Street Zen cut Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $276.08.

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.