BI Asset Management Fondsmaeglerselskab A S Increases Position in Labcorp Holdings Inc. $LH

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Labcorp Holdings Inc. by 63.8%, purchasing an additional 1,243 shares, bringing its total to 3,191 shares valued at approximately $743,000.
• Labcorp reported earnings of $4.35 EPS for the last quarter, surpassing analysts' expectations of $4.14, alongside a revenue increase of 9.6% year-over-year.
• The company declared a quarterly dividend of $0.72, set to be paid on September 11th, representing an annualized yield of 1.0% with a payout ratio of 31.79%.

BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 63.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,191 shares of the medical research company's stock after buying an additional 1,243 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Labcorp were worth $743,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Select Equity Group L.P. grew its holdings in shares of Labcorp by 150.9% in the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after purchasing an additional 959,981 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 807,539 shares during the last quarter. Invesco Ltd. increased its position in shares of Labcorp by 28.9% in the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock valued at $330,750,000 after acquiring an additional 318,865 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Labcorp by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after acquiring an additional 280,011 shares during the period. Finally, Freestone Grove Partners LP bought a new position in Labcorp during the 4th quarter valued at approximately $48,693,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

NYSE LH traded up $2.30 during trading hours on Tuesday, hitting $278.41. 449,090 shares of the company's stock traded hands, compared to its average volume of 715,860. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The business's fifty day moving average price is $261.42 and its two-hundred day moving average price is $248.27. The firm has a market capitalization of $23.14 billion, a P/E ratio of 30.73, a P/E/G ratio of 1.78 and a beta of 0.78. 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 data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the company posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 28th. Labcorp's dividend payout ratio (DPR) is 31.79%.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares of the company's stock, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,046 shares of company stock worth $4,831,192 in the last three months. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LH. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI lifted their price target on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Truist Financial boosted their price objective on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.