Labcorp Holdings Inc. (NYSE:LH) Shares Bought by Brown Advisory Inc.

Brown Advisory Inc. grew its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 8.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,611 shares of the medical research company's stock after buying an additional 5,644 shares during the period. Brown Advisory Inc. owned approximately 0.08% of Labcorp worth $16,201,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LH. Graney & King LLC purchased a new position in shares of Labcorp during the 4th quarter worth about $26,000. Golden State Wealth Management LLC boosted its stake in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. purchased a new position in shares of Labcorp during the 1st quarter worth about $27,000. Garde Capital Inc. purchased a new position in shares of Labcorp during the 1st quarter worth about $36,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Labcorp during the 4th quarter worth about $44,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LH shares. Piper Sandler reiterated a "neutral" rating and set a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a report on Thursday. Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday. Truist Financial lifted their price objective on shares of Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Barclays reiterated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $276.38.

Labcorp Stock Down 1.7%

Shares of NYSE:LH traded down $4.39 during trading hours on Friday, hitting $249.24. The company's stock had a trading volume of 1,139,598 shares, compared to its average volume of 648,524. Labcorp Holdings Inc. has a 52 week low of $205.98 and a 52 week high of $265.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The company has a market capitalization of $20.86 billion, a price-to-earnings ratio of 28.81, a P/E/G ratio of 1.58 and a beta of 0.82. The firm's fifty day moving average price is $253.64 and its 200 day moving average price is $243.18.

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

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. Labcorp's dividend payout ratio (DPR) is presently 33.29%.

Insider Activity

In other Labcorp news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the sale, the chief accounting officer owned 2,054 shares of the company's stock, valued at approximately $497,602.04. The trade was a 28.75% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares in the company, valued at approximately $7,426,549. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,834 shares of company stock worth $2,928,714 over the last 90 days. 0.84% of the stock is currently owned by insiders.

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.