Choreo LLC Has $702,000 Stake in Labcorp Holdings Inc. (NYSE:LH)

Choreo LLC lowered its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 40.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,017 shares of the medical research company's stock after selling 2,082 shares during the period. Choreo LLC's holdings in Labcorp were worth $702,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its stake in shares of Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after acquiring an additional 44 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in Labcorp by 5.5% in the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after purchasing an additional 49 shares during the last quarter. Resonant Capital Advisors LLC boosted its position in Labcorp by 1.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock worth $813,000 after purchasing an additional 51 shares during the period. Golden State Wealth Management LLC grew its holdings in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. Finally, Colonial Trust Co SC raised its position in shares of Labcorp by 3.2% in the fourth quarter. Colonial Trust Co SC now owns 1,722 shares of the medical research company's stock valued at $395,000 after purchasing an additional 53 shares during the period. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Down 1.2%

Shares of LH stock opened at $264.46 on Friday. The stock has a market cap of $22.14 billion, a P/E ratio of 29.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.60. The stock has a fifty day moving average price of $254.43 and a 200 day moving average price of $244.60. 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 released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The company 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 firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $3.94 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business 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 $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.09%. Labcorp's dividend payout ratio is currently 33.29%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday. Truist Financial upped their price target on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday. Redburn Atlantic initiated coverage on Labcorp in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective on the stock. Barclays restated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, UBS Group lifted their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $285.00.

Insider Buying and Selling

In related news, Director Kerrii B. Anderson sold 500 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the sale, the director owned 12,166 shares of the company's stock, valued at $3,223,990. The trade was a 3.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Peter J. Wilkinson sold 829 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the transaction, the chief accounting officer owned 2,054 shares of the company's stock, valued at $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,834 shares of company stock worth $2,928,714. 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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