Cambiar Investors LLC Has $61.20 Million Position in Labcorp Holdings Inc. (NYSE:LH)

Key Points

• Cambiar Investors LLC reduced its stake in Labcorp Holdings by 2.1%, now holding approximately 262,944 shares valued at $61.20 million, making it the fifth largest position in their investment portfolio.
• Labcorp reported a 9.6% increase in quarterly revenue compared to the previous year, with earnings per share beating estimates at $4.35 against a consensus of $4.14.
• The company has declared a quarterly dividend of $0.72 per share, with a dividend yield of 1.1% and a payout ratio of 31.79%.

Cambiar Investors LLC decreased its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 262,944 shares of the medical research company's stock after selling 5,506 shares during the quarter. Labcorp comprises approximately 2.6% of Cambiar Investors LLC's investment portfolio, making the stock its 5th largest position. Cambiar Investors LLC owned approximately 0.31% of Labcorp worth $61,198,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital increased its stake in shares of Labcorp by 5.0% in the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock valued at $204,000 after acquiring an additional 44 shares in the last quarter. Horizon Investments LLC increased its stake in shares of Labcorp by 4.2% in the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after acquiring an additional 48 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Labcorp by 5.5% in the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock valued at $219,000 after acquiring an additional 49 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Labcorp by 1.5% in the 1st quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock valued at $813,000 after acquiring an additional 51 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after acquiring an additional 52 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

LH opened at $270.60 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The company has a market capitalization of $22.49 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 1.73 and a beta of 0.78. The firm's fifty day moving average price is $259.53 and its two-hundred day moving average price is $247.12. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.94 EPS. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's dividend payout ratio (DPR) is currently 31.79%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lifted their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Robert W. Baird lifted their price target on shares of Labcorp from $290.00 to $302.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and an average price target of $289.58.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the transaction, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the transaction, the executive vice president directly owned 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock worth $4,831,192 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

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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