Fuller & Thaler Asset Management Inc. Boosts Position in Labcorp Holdings Inc. $LH

Key Points

• Fuller & Thaler Asset Management Inc. increased its stake in Labcorp Holdings Inc. by 3.1%, now owning 39,571 shares valued at approximately $9.21 million.
• Insider trading activity shows EVP Brian J. Caveney sold 2,000 shares for $494,000, while Director Kerrii B. Anderson sold 3,500 shares for $980,000, indicating a decrease in their ownership positions.
• Analysts have mixed views on Labcorp's stock, with price targets ranging from $260.00 to $310.00, resulting in a consensus rating of "Moderate Buy" and an average price target of $289.58.

Fuller & Thaler Asset Management Inc. raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,571 shares of the medical research company's stock after buying an additional 1,181 shares during the quarter. Fuller & Thaler Asset Management Inc.'s holdings in Labcorp were worth $9,210,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Wedmont Private Capital grew its holdings in Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock valued at $204,000 after buying an additional 44 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after purchasing an additional 48 shares in the last quarter. Cidel Asset Management Inc. grew its holdings in shares of Labcorp by 5.5% during the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after purchasing an additional 49 shares in the last quarter. Resonant Capital Advisors LLC grew its holdings in shares of Labcorp by 1.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock worth $813,000 after purchasing an additional 51 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings 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. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Activity

In other news, EVP Brian J. Caveney sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the sale, the executive vice president owned 30,067 shares of the company's stock, valued at approximately $7,426,549. This represents a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,046 shares of company stock valued at $4,831,192. Corporate insiders own 0.84% of the company's stock.

Analyst Ratings Changes

LH has been the subject of several recent analyst reports. Barclays reissued a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Truist Financial boosted their price objective on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a report on Thursday, July 10th. Finally, Evercore ISI boosted their target price on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $289.58.

Labcorp Stock Performance

NYSE:LH opened at $276.1560 on Wednesday. The firm has a market cap of $22.95 billion, a PE ratio of 30.48, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The business has a 50 day moving average price of $260.17 and a 200-day moving average price of $247.45.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business 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 dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

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.

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