Generali Asset Management SPA SGR Trims Stake in Labcorp Holdings Inc. $LH

Key Points

• Generali Asset Management SPA SGR reduced its stake in Labcorp Holdings Inc. by 7.4%, now holding 17,441 shares worth $4,578,000.
• Labcorp recently declared a dividend of $0.72 per share, with an annualized yield of 1.0%, set to be paid on December 11th.
• Analysts have set a consensus price target of $292.83 for Labcorp, with ten analysts rating the stock as a "Buy."

Generali Asset Management SPA SGR lowered its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 7.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,441 shares of the medical research company's stock after selling 1,390 shares during the quarter. Generali Asset Management SPA SGR's holdings in Labcorp were worth $4,578,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in LH. Golden State Wealth Management LLC increased its stake in Labcorp by 88.1% in 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 during the period. North Capital Inc. purchased a new position in Labcorp in the 1st quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in Labcorp in the 1st quarter worth about $28,000. Larson Financial Group LLC increased its stake in Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after buying an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new position in Labcorp in the 1st quarter worth about $31,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Robert W. Baird set a $311.00 price target on shares of Labcorp in a research note on Monday, August 25th. Morgan Stanley increased their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. UBS Group increased their target price on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a report on Wednesday, October 8th. Finally, Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Ten analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $292.83.

Labcorp Stock Performance

LH stock opened at $282.53 on Thursday. The firm has a market cap of $23.48 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.79 and a beta of 0.89. The firm has a 50-day simple moving average of $276.32 and a two-hundred day simple moving average of $256.87. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $289.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period 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. On average, equities analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp's dividend payout ratio is presently 31.79%.

Insider Activity at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares of the company's stock, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the 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 completion of the transaction, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,046 shares of company stock valued at $4,074,692. Company insiders own 0.84% of the company's stock.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

Want to see what other hedge funds are holding LH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Labcorp Holdings Inc. (NYSE:LH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.