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Capital Investment Advisors LLC Invests $323,000 in Labcorp Holdings Inc. $LH

Labcorp logo with Medical background

Key Points

  • Capital Investment Advisors LLC invested approximately $323,000 in Labcorp Holdings Inc. during the second quarter, acquiring 1,230 shares of the company stock.
  • $0.72 per share, with a dividend yield of 1.0% and a payout ratio of 31.79%.
  • Several analysts have increased their price targets for Labcorp shares, with forecasts ranging from $260.00 to $311.00, reflecting a consensus rating of "Moderate Buy."
  • Interested in Labcorp? Here are five stocks we like better.

Capital Investment Advisors LLC acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,230 shares of the medical research company's stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also made changes to their positions in LH. Select Equity Group L.P. lifted its stake in shares of Labcorp by 39.1% during the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock worth $516,696,000 after buying an additional 624,099 shares during the period. Invesco Ltd. boosted its holdings in shares of Labcorp by 28.9% in the 1st 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 last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of Labcorp by 55.9% in the 1st 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 last quarter. Alliancebernstein L.P. boosted its holdings in shares of Labcorp by 24.5% in the 1st 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 during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Labcorp in the 1st quarter valued at $48,193,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

LH opened at $276.56 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The company has a market cap of $22.98 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.79 and a beta of 0.89. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20. The firm's fifty day simple moving average is $273.70 and its two-hundred day simple moving average is $254.43.

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, beating the consensus estimate of $4.14 by $0.21. The business 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 company's revenue was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp's dividend payout ratio is 31.79%.

Insider Buying and Selling at Labcorp

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated 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 in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated 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 owned 8,666 shares of the company's stock, valued at $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. 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 report on Friday. Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a report on Monday, August 25th. UBS Group upped their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, HSBC cut shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $292.00.

Check Out Our Latest Research Report on Labcorp

Labcorp Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Labcorp (NYSE:LH)

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