GAMMA Investing LLC Buys 1,316 Shares of Labcorp Holdings Inc. (NYSE:LH)

GAMMA Investing LLC increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 60.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,479 shares of the medical research company's stock after acquiring an additional 1,316 shares during the quarter. GAMMA Investing LLC's holdings in Labcorp were worth $810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LH. LPL Financial LLC increased its holdings in Labcorp by 63.8% in the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock valued at $14,343,000 after buying an additional 24,357 shares during the period. Clifford Swan Investment Counsel LLC increased its holdings in Labcorp by 1.7% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 97,996 shares of the medical research company's stock valued at $22,473,000 after buying an additional 1,614 shares during the period. Freestone Grove Partners LP bought a new stake in Labcorp in the 4th quarter valued at $48,693,000. Brighton Jones LLC bought a new stake in Labcorp in the 4th quarter valued at $991,000. Finally, IFP Advisors Inc grew its holdings in shares of Labcorp by 278.5% in the 4th quarter. IFP Advisors Inc now owns 352 shares of the medical research company's stock worth $81,000 after purchasing an additional 259 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

Shares of LH opened at $260.30 on Monday. Labcorp Holdings Inc. has a twelve month low of $198.96 and a twelve month high of $264.03. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $248.19 and a 200-day moving average of $241.20. The stock has a market capitalization of $21.79 billion, a P/E ratio of 30.09, a P/E/G ratio of 1.65 and a beta of 0.81.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The company's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.68 earnings per share. As a group, equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.11%. Labcorp's dividend payout ratio is presently 33.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 target price (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Citigroup raised shares of Labcorp from a "neutral" rating to a "buy" rating and upped their target price for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Redburn Atlantic assumed coverage on shares of Labcorp in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price on the stock. Finally, Robert W. Baird increased their price objective on shares of Labcorp from $253.00 to $267.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $276.08.

Insider Transactions at Labcorp

In other Labcorp news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the transaction, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at approximately $497,602.04. The trade was a 28.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $260.00, for a total value of $130,000.00. Following the transaction, the director now directly owns 12,666 shares in the company, valued at $3,293,160. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,334 shares of company stock worth $2,796,214. Insiders own 0.84% of the company's stock.

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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