7,983 Shares in Labcorp Holdings Inc. (NYSE:LH) Bought by Dakota Wealth Management

Dakota Wealth Management acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,983 shares of the medical research company's stock, valued at approximately $1,858,000.

Several other hedge funds have also bought and sold shares of the business. Graney & King LLC bought a new position in shares of Labcorp in the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its stake in shares of Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. bought a new position in shares of Labcorp in the first quarter worth approximately $27,000. TruNorth Capital Management LLC bought a new position in shares of Labcorp in the first quarter worth approximately $28,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Labcorp in the first quarter worth approximately $31,000. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Performance

LH stock traded down $1.99 during midday trading on Friday, reaching $245.26. 112,641 shares of the company's stock traded hands, compared to its average volume of 650,395. The stock's 50-day moving average is $253.69 and its 200 day moving average is $243.56. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68. The stock has a market cap of $20.53 billion, a P/E ratio of 28.35, a PEG ratio of 1.56 and a beta of 0.82. Labcorp Holdings Inc. has a 52-week low of $205.98 and a 52-week high of $265.72.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The firm had revenue of $3.35 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $3.68 earnings per share. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.17%. Labcorp's dividend payout ratio (DPR) is presently 33.29%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 6,105 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the sale, the chief executive officer directly owned 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $200,833.54. Following the completion of the sale, the chief accounting officer directly owned 2,054 shares of the company's stock, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,834 shares of company stock valued at $2,928,714. Company insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

LH has been the topic of several analyst reports. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Evercore ISI boosted their price objective on shares of Labcorp from $260.00 to $285.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Wall Street Zen cut shares of Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Morgan Stanley boosted their price objective on shares of Labcorp from $270.00 to $283.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.38.

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.