Cardinal Capital Management Has $9.93 Million Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• Cardinal Capital Management increased its stake in Labcorp Holdings Inc. by 3.1% during the 2nd quarter, bringing their total holdings to approximately $9.93 million from 37,838 shares.
• Labcorp reported Q2 earnings of $4.35 per share, beating analyst expectations and disclosed a revenue of $3.53 billion, reflecting a 9.6% year-over-year increase.
• The company recently declared a quarterly dividend of $0.72 per share, resulting in an annualized dividend yield of 1.0% and a payout ratio of 31.79%.

Cardinal Capital Management grew its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,838 shares of the medical research company's stock after acquiring an additional 1,149 shares during the period. Labcorp accounts for approximately 1.5% of Cardinal Capital Management's holdings, making the stock its 20th largest position. Cardinal Capital Management's holdings in Labcorp were worth $9,933,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in LH. Vanguard Group Inc. lifted its stake in shares of Labcorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company's stock valued at $2,262,817,000 after purchasing an additional 71,464 shares during the last quarter. Select Equity Group L.P. lifted 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 worth $516,696,000 after buying an additional 624,099 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Labcorp by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company's stock worth $455,370,000 after buying an additional 40,814 shares during the last quarter. Invesco Ltd. lifted 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 worth $330,750,000 after buying an additional 318,865 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Labcorp by 24.5% in the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock worth $295,950,000 after buying an additional 250,486 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Transactions at Labcorp

In related news, Director Kerrii B. Anderson sold 3,500 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,546 shares of company stock valued at $4,207,192. Company insiders own 0.84% of the company's stock.

Labcorp Price Performance

NYSE:LH opened at $279.13 on Tuesday. The company has a fifty day moving average price of $268.48 and a 200 day moving average price of $252.08. The stock has a market cap of $23.20 billion, a P/E ratio of 30.81, a PEG ratio of 1.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid 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 presently 31.79%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LH shares. Evercore ISI boosted their target price on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Truist Financial boosted their price objective on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays restated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Morgan Stanley boosted their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Finally, Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $290.33.

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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