Callan Family Office LLC Takes Position in Labcorp Holdings Inc. $LH

Key Points

• Callan Family Office LLC has acquired a new stake in Labcorp Holdings Inc. valued at approximately $373,000 during the second quarter, purchasing 1,421 shares.
• Institutional investors now own 95.94% of Labcorp's stock, with several firms, including Select Equity Group and Invesco, significantly increasing their positions in the company recently.
• Labcorp recently declared a quarterly dividend of $0.72 per share, with an ex-dividend date of November 26th, and an annualized yield of 1.0%.

Callan Family Office LLC purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,421 shares of the medical research company's stock, valued at approximately $373,000.

Several other large investors have also modified their holdings of LH. Select Equity Group L.P. grew its position in shares of Labcorp by 39.1% in the first 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 purchasing an additional 624,099 shares during the last quarter. Invesco Ltd. grew 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 purchasing an additional 318,865 shares during the last quarter. Lord Abbett & CO. LLC grew 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 purchasing an additional 280,011 shares during the last quarter. Alliancebernstein L.P. lifted its stake 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 valued at $295,950,000 after buying an additional 250,486 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Labcorp during the first quarter valued at approximately $48,193,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LH shares. Evercore ISI upped their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a research note on Friday, October 3rd. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective on the stock. in a research note on Thursday, July 10th. Barclays upped their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an "equal weight" rating in a research note on Thursday, October 2nd. Finally, Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Labcorp has a consensus rating of "Moderate Buy" and an average target price of $292.83.

Insider Activity

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. The trade was a 23.11% 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 90 days. Company insiders own 0.84% of the company's stock.

Labcorp Stock Performance

Shares of LH stock opened at $282.53 on Thursday. The company's fifty day simple moving average is $276.32 and its 200-day simple moving average is $256.87. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $23.48 billion, a PE ratio of 31.18, a P/E/G ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last issued its 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter last year, the firm posted $3.94 EPS. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Labcorp Company 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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