Board of the Pension Protection Fund Purchases New Position in Labcorp Holdings Inc. $LH

Key Points

• The Pension Protection Fund acquired a new position in Labcorp Holdings Inc., purchasing 3,300 shares valued at approximately $866,000.
• Labcorp recently reported a quarterly earnings per share of $4.35, exceeding estimates and marking a 9.6% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.72 per share, with a scheduled payment date of December 11th, representing an annual yield of 1.0%.

Board of the Pension Protection Fund purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 3,300 shares of the medical research company's stock, valued at approximately $866,000.

Several other large investors have also modified their holdings of LH. Select Equity Group L.P. boosted its holdings in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock valued at $516,696,000 after buying an additional 624,099 shares in the last quarter. Invesco Ltd. boosted its stake in 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 in the last quarter. Lord Abbett & CO. LLC boosted its stake in 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 in the last quarter. Alliancebernstein L.P. boosted its stake in Labcorp by 24.5% in the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock valued at $295,950,000 after acquiring an additional 250,486 shares in the last quarter. Finally, Nuveen LLC acquired a new position in Labcorp in the first quarter valued at $48,193,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Stock Up 0.1%

LH stock opened at $277.96 on Friday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The stock has a market capitalization of $23.10 billion, a PE ratio of 30.68, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. 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 company has a fifty day moving average of $275.30 and a 200-day moving average of $256.03.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter last year, the business earned $3.94 EPS. The business's revenue 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 expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th 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 of this dividend is Wednesday, November 26th. Labcorp's dividend payout ratio (DPR) is currently 31.79%.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 5,643 shares of the firm's 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 completion of the sale, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $529,900.00. Following the completion of the sale, the director directly 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 15,046 shares of company stock valued at $4,074,692 over the last 90 days. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of research analyst reports. Truist Financial upped their target price on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. UBS Group increased their price objective on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Barclays increased their price target on shares of Labcorp from $275.00 to $290.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.00.

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.

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