Cinctive Capital Management LP Has $1.34 Million Stake in Labcorp Holdings Inc. $LH

Key Points

• Cinctive Capital Management LP has reduced its stake in Labcorp Holdings by 77.1%, owning 5,752 shares after selling 19,339 shares during the first quarter.
• Insider sales include Director Kerrii B. Anderson selling 3,500 shares, reducing ownership by 28.77%, and CEO Adam H. Schechter selling 5,643 shares, decreasing his ownership by 5.70%.
• Labcorp recently declared a quarterly dividend of $0.72 per share, with a payout ratio of 31.79% and a dividend yield of 1.0%.

Cinctive Capital Management LP lowered its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 77.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,752 shares of the medical research company's stock after selling 19,339 shares during the period. Cinctive Capital Management LP's holdings in Labcorp were worth $1,339,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC acquired a new position in Labcorp in the fourth quarter worth $991,000. Aptus Capital Advisors LLC lifted its position in Labcorp by 3.2% during the 4th quarter. Aptus Capital Advisors LLC now owns 1,981 shares of the medical research company's stock worth $454,000 after buying an additional 62 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Labcorp by 35.3% during the 4th quarter. BNP Paribas Financial Markets now owns 171,479 shares of the medical research company's stock worth $39,324,000 after buying an additional 44,702 shares in the last quarter. Caxton Associates LP bought a new stake in Labcorp during the 4th quarter worth about $303,000. Finally, Cetera Investment Advisers increased its position in Labcorp by 8.6% in the 4th quarter. Cetera Investment Advisers now owns 16,453 shares of the medical research company's stock valued at $3,773,000 after acquiring an additional 1,302 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Trading Up 0.3%

NYSE LH traded up $0.89 during trading on Tuesday, reaching $278.10. 402,898 shares of the stock traded hands, compared to its average volume of 699,936. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. 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 firm has a market cap of $23.11 billion, a price-to-earnings ratio of 30.70, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. The stock's 50-day moving average price is $264.63 and its 200 day moving average price is $250.40.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the business posted $3.94 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the sale, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp 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 transaction, the director owned 6,656 shares in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,046 shares of company stock valued at $4,337,192 over the last ninety days. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LH shares. Robert W. Baird set a $311.00 target price on shares of Labcorp in a research report on Monday, August 25th. HSBC cut shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Barclays reiterated a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley raised their price target on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Labcorp currently has an average rating of "Moderate Buy" and an average price target of $290.33.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.