D.A. Davidson & CO. Has $3.51 Million Holdings in Labcorp Holdings Inc. $LH

Key Points

• D.A. Davidson & CO. increased its holdings in Labcorp Holdings Inc. by 12.7%, reaching a total of $3.51 million in shares, as reported in their recent SEC filing.
• Labcorp has recently received multiple upgrades from analysts, with Evercore ISI and Morgan Stanley raising their price targets to $305.00 and $306.00, respectively.
• Labcorp will pay a quarterly dividend of $0.72 per share on December 11th, reflecting an annualized yield of 1.0%.

D.A. Davidson & CO. increased its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 12.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,358 shares of the medical research company's stock after acquiring an additional 1,507 shares during the quarter. D.A. Davidson & CO.'s holdings in Labcorp were worth $3,507,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LH. Select Equity Group L.P. raised its holdings in shares of Labcorp by 39.1% during the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock valued at $516,696,000 after acquiring an additional 624,099 shares during the period. Nordea Investment Management AB increased its stake in Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company's stock valued at $476,995,000 after buying an additional 401,808 shares during the period. Invesco Ltd. lifted its position in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after buying an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in Labcorp by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after buying an additional 280,011 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock worth $295,950,000 after buying an additional 250,486 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Evercore ISI lifted their price target on Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a report on Friday, October 3rd. Morgan Stanley lifted 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. Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a research note on Wednesday, October 8th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus target price of $296.46.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. This represents a 5.70% decrease in their position. The sale 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 3,903 shares of Labcorp stock in a transaction dated Wednesday, August 13th. The shares were 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 in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,546 shares of company stock valued at $3,094,692 in the last ninety days. Company insiders own 0.84% of the company's stock.

Labcorp Price Performance

Shares of Labcorp stock opened at $279.72 on Friday. 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 fifty-two week low of $209.38 and a fifty-two week high of $293.72. The firm has a fifty day moving average price of $278.60 and a two-hundred day moving average price of $259.57. The company has a market cap of $23.25 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the firm earned $3.94 EPS. The business's revenue was up 9.6% on a year-over-year basis. Analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio is 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.

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