Equitable Trust Co. Boosts Position in Labcorp Holdings Inc. $LH

Key Points

• Equitable Trust Co. increased its stake in Labcorp Holdings Inc. by 3.5% during Q2, now owning 77,427 shares valued at approximately $20.3 million.
• CEO Adam H. Schechter sold 5,643 shares of Labcorp, resulting in a 5.7% decrease in his ownership, while other executives also reduced their stakes.
• Labcorp recently declared a quarterly dividend of $0.72, with an annual yield of 1.0%, and set its FY 2025 earnings guidance at 16.050-16.500 EPS.

Equitable Trust Co. grew its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,427 shares of the medical research company's stock after acquiring an additional 2,644 shares during the period. Labcorp accounts for 1.0% of Equitable Trust Co.'s holdings, making the stock its 25th biggest holding. Equitable Trust Co. owned about 0.09% of Labcorp worth $20,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its holdings 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 valued at $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. bought a new stake in Labcorp during the 1st quarter valued at $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp during the 1st quarter valued at $28,000. Larson Financial Group LLC increased its stake 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 valued at $29,000 after buying an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Labcorp during the first quarter valued at $31,000. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 5,643 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the company's 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 transaction, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by corporate insiders.

Labcorp Trading Down 0.5%

NYSE LH opened at $276.37 on Tuesday. 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 $22.97 billion, a PE ratio of 30.50, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. The company has a 50 day moving average price of $275.56 and a 200 day moving average price of $256.53. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly 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 previous year, the company earned $3.94 earnings per share. The business'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. As a group, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date 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 (DPR) is 31.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LH. Morgan Stanley raised their price target on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. HSBC cut shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a report on Thursday, July 10th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $292.00.

Labcorp Company 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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