Bartlett & CO. Wealth Management LLC Has $55.34 Million Stake in Labcorp Holdings Inc. $LH

Key Points

• Bartlett & CO. Wealth Management LLC has raised its stake in Labcorp Holdings Inc. by 0.9%, now owning approximately $55.34 million worth of the stock.
• Labcorp recently reported a quarterly earnings per share (EPS) of $4.35, exceeding analysts' expectations, along with a revenue of $3.53 billion, marking a 9.6% year-over-year increase.
• The company announced a quarterly dividend of $0.72 per share, translating to an annualized yield of 1.0% and a dividend payout ratio of 31.79%.

Bartlett & CO. Wealth Management LLC raised its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,805 shares of the medical research company's stock after buying an additional 1,785 shares during the period. Bartlett & CO. Wealth Management LLC owned about 0.25% of Labcorp worth $55,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of LH. Select Equity Group L.P. increased its holdings in shares of Labcorp by 39.1% during the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock worth $516,696,000 after buying an additional 624,099 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Labcorp by 28.9% during the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after buying an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Labcorp by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after buying an additional 280,011 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Labcorp by 24.5% during the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock worth $295,950,000 after buying an additional 250,486 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Labcorp during the first quarter worth approximately $48,193,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Price Performance

Shares of LH stock opened at $287.14 on Wednesday. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $288.36. The stock has a market cap of $23.86 billion, a PE ratio of 31.69, a PEG ratio of 1.81 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The firm's 50 day moving average price is $272.66 and its two-hundred day moving average price is $253.74.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (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 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 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. As a group, analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LH. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Robert W. Baird set a $311.00 price objective on Labcorp in a research report on Monday, August 25th. Barclays reiterated a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Evercore ISI increased their price objective on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, UBS Group increased their price objective on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction 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 sale, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction 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 trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock valued at $4,074,692 in the last three months. Insiders own 0.84% of the company's stock.

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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