Charles Schwab Investment Management Inc. Raises Position in Labcorp Holdings Inc. (NYSE:LH)

Charles Schwab Investment Management Inc. increased its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 634,777 shares of the medical research company's stock after purchasing an additional 35,226 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.76% of Labcorp worth $147,738,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LH. Vanguard Group Inc. grew its position in shares of Labcorp by 0.7% during 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Labcorp by 2.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company's stock valued at $455,370,000 after purchasing an additional 40,814 shares in the last quarter. Select Equity Group L.P. grew its position in shares of Labcorp by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares in the last quarter. Northern Trust Corp grew its position in shares of Labcorp by 1.0% during the 4th quarter. Northern Trust Corp now owns 1,011,116 shares of the medical research company's stock valued at $231,869,000 after purchasing an additional 9,802 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Labcorp by 7.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 984,227 shares of the medical research company's stock valued at $225,703,000 after purchasing an additional 70,208 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Trading Down 0.5%

NYSE LH traded down $1.25 during trading on Thursday, hitting $271.29. 213,473 shares of the company's stock traded hands, compared to its average volume of 725,061. The stock has a fifty day moving average of $258.82 and a two-hundred day moving average of $246.82. 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 12-month low of $209.38 and a 12-month high of $283.47. The firm has a market cap of $22.54 billion, a P/E ratio of 29.94, a PEG ratio of 1.72 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion during 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 quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.94 earnings per share. As a group, sell-side 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. Stockholders 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 1.1%. Labcorp's dividend payout ratio (DPR) is 31.79%.

Insider Activity

In other news, EVP Brian J. Caveney sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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 of the company's stock, valued at approximately $7,426,549. This represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,143 shares of company stock valued at $3,771,840. 0.84% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LH. Robert W. Baird boosted 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. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. UBS Group upped their target price on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley upped 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, Evercore ISI upped their target price on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and an average target price of $289.58.

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.