Czech National Bank Raises Position in Labcorp Holdings Inc. $LH

Key Points

• The Czech National Bank increased its stake in Labcorp Holdings Inc. by 6.8%, bringing its total holdings to approximately $5.37 million as of the latest SEC filing.
• Labcorp reported earnings per share (EPS) of $4.35 for the last quarter, surpassing analysts' expectations, with quarterly revenue up 9.6% year-over-year.
• The company recently announced a $0.72 per share quarterly dividend with a yield of 1.0% and a payout ratio of 31.79%.

Czech National Bank raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,459 shares of the medical research company's stock after purchasing an additional 1,304 shares during the period. Czech National Bank's holdings in Labcorp were worth $5,371,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its position in shares of Labcorp by 88.1% during the first 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 in the last quarter. North Capital Inc. acquired a new position in shares of Labcorp during the first quarter worth $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the first quarter worth $28,000. Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% during the first 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp during the first quarter worth $31,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LH shares. Evercore ISI upped their target price on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Truist Financial upped their target price on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley upped their target price on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Finally, UBS Group upped their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $290.33.

Insider Activity

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the 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 sale, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,546 shares of company stock valued at $4,207,192. Insiders own 0.84% of the company's stock.

Labcorp Price Performance

Shares of LH stock traded down $0.08 during mid-day trading on Friday, hitting $277.07. 1,064,764 shares of the stock were exchanged, compared to its average volume of 390,173. The firm has a fifty day moving average of $267.90 and a 200 day moving average of $251.92. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The company has a market cap of $23.02 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85.

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 (EPS) 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 business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the company posted $3.94 EPS. The company's revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research 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. Stockholders of record on Thursday, August 28th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp's dividend payout ratio is presently 31.79%.

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.