Beck Mack & Oliver LLC Has $145.93 Million Holdings in Labcorp Holdings Inc. $LH

Key Points

• Beck Mack & Oliver LLC increased its holdings in Labcorp Holdings Inc. by 2.3%, bringing its total ownership to 627,018 shares, valued at approximately $145.93 million, making Labcorp its 11th largest position.
• Labcorp's recent earnings report exceeded expectations with $4.35 EPS for the quarter, and the company has provided 2025 earnings guidance of 16.050-16.500 EPS.
• The company announced a quarterly dividend of $0.72 per share, reflecting an annualized yield of 1.0%, with payments scheduled for September 11th.

Beck Mack & Oliver LLC raised its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 627,018 shares of the medical research company's stock after buying an additional 13,986 shares during the period. Labcorp accounts for about 2.9% of Beck Mack & Oliver LLC's investment portfolio, making the stock its 11th biggest position. Beck Mack & Oliver LLC owned 0.75% of Labcorp worth $145,932,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Wedmont Private Capital lifted its position in shares of Labcorp by 5.0% during the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after purchasing an additional 44 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Labcorp by 1.4% during the first 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 in the last quarter. Horizon Investments LLC lifted its holdings in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after buying an additional 48 shares during the period. Cidel Asset Management Inc. lifted its holdings in Labcorp by 5.5% in the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock valued at $219,000 after buying an additional 49 shares during the period. Finally, Synovus Financial Corp lifted its holdings in Labcorp by 3.7% in the first quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock valued at $323,000 after buying an additional 49 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LH shares. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Truist Financial upped their target price on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Robert W. Baird set a $311.00 target price on shares of Labcorp in a research note on Monday, August 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $290.33.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares of the company's stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the transaction, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock valued at $4,831,192 in the last quarter. Company insiders own 0.84% of the company's stock.

Labcorp Stock Up 1.0%

Labcorp stock opened at $278.07 on Friday. The company has a market cap of $23.11 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The company has a fifty day simple moving average of $262.75 and a 200 day simple moving average of $249.19. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently announced 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. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 28th. 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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