Clifford Swan Investment Counsel LLC Increases Stock Position in Labcorp Holdings Inc. (NYSE:LH)

Clifford Swan Investment Counsel LLC raised its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,708 shares of the medical research company's stock after purchasing an additional 3,712 shares during the quarter. Clifford Swan Investment Counsel LLC owned 0.12% of Labcorp worth $23,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Graney & King LLC acquired a new stake in shares of Labcorp during the 4th quarter valued at approximately $26,000. Golden State Wealth Management LLC raised its position in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. acquired a new position in shares of Labcorp during the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the 1st quarter worth approximately $28,000. Finally, Larson Financial Group LLC raised its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Stock Down 0.6%

LH stock traded down $1.36 during trading on Monday, reaching $242.37. The stock had a trading volume of 19,073 shares, compared to its average volume of 650,686. The company has a market capitalization of $20.29 billion, a P/E ratio of 28.02, a PEG ratio of 1.54 and a beta of 0.82. The firm has a fifty day moving average price of $253.65 and a 200 day moving average price of $243.87. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 1-year low of $205.98 and a 1-year high of $265.72.

Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.68 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors 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 yield of 1.19%. Labcorp's dividend payout ratio (DPR) is 33.29%.

Analysts Set New Price Targets

Several research analysts recently issued reports on LH shares. Robert W. Baird lifted their price objective on Labcorp from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on Labcorp in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price target for the company. Barclays reiterated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Piper Sandler reiterated a "neutral" rating and issued a $280.00 price target (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Finally, Truist Financial boosted their price target on Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $276.08.

Insider Activity

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director owned 12,166 shares in the company, valued at approximately $3,223,990. This represents a 3.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the transaction, the executive vice president owned 2,244 shares of the company's stock, valued at approximately $534,879.84. This trade represents a 45.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,834 shares of company stock valued at $2,928,714 over the last quarter. Corporate insiders own 0.84% of the company's stock.

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.

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