FORA Capital LLC Invests $814,000 in Labcorp Holdings Inc. $LH

Key Points

• FORA Capital LLC acquired a new stake in Labcorp Holdings Inc., purchasing 3,496 shares valued at approximately $814,000 in the first quarter.
• CEO Adam H. Schechter sold 5,643 shares at an average price of $266.78, decreasing his position by 5.70%, while other insiders also sold shares totaling over $4.8 million in the last quarter.
• Labcorp announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.0%, set to be paid on September 11th.

FORA Capital LLC acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,496 shares of the medical research company's stock, valued at approximately $814,000.

A number of other institutional investors also recently modified their holdings of LH. Golden State Wealth Management LLC lifted its position in 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 buying an additional 52 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Labcorp in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp in the first quarter valued at about $28,000. Larson Financial Group LLC increased its stake in 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Labcorp during the 1st quarter worth approximately $31,000. Institutional investors own 95.94% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 price target (up from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Evercore ISI raised their price target on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Stock Up 1.0%

Shares of NYSE:LH traded up $2.78 during midday trading on Monday, hitting $278.07. The stock had a trading volume of 379,936 shares, compared to its average volume of 483,274. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47. 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 business's 50-day simple moving average is $262.75 and its 200-day simple moving average is $249.21. The company has a market cap of $23.11 billion, a P/E ratio of 30.69, a PEG ratio of 1.78 and a beta of 0.85.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping 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 analysts' expectations of $3.49 billion. During the same period in the previous year, the business posted $3.94 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp's dividend payout ratio (DPR) is currently 31.79%.

Insider Buying and Selling

In related news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction that occurred on 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 approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction that occurred on 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 directly owned 2,274 shares in the company, valued at $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 18,046 shares of company stock worth $4,831,192 in 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.