Labcorp Holdings Inc. (NYSE:LH) Shares Acquired by GHP Investment Advisors Inc.

GHP Investment Advisors Inc. boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,769 shares of the medical research company's stock after purchasing an additional 1,695 shares during the period. GHP Investment Advisors Inc.'s holdings in Labcorp were worth $9,023,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. SP Asset Management LLC grew its position in Labcorp by 0.3% during the 4th quarter. SP Asset Management LLC now owns 15,186 shares of the medical research company's stock worth $3,483,000 after purchasing an additional 43 shares during the last quarter. Wedmont Private Capital grew its position in Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after purchasing an additional 44 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Labcorp by 0.4% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 12,780 shares of the medical research company's stock valued at $2,931,000 after acquiring an additional 45 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Labcorp by 0.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,194 shares of the medical research company's stock valued at $1,650,000 after acquiring an additional 46 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Labcorp by 9.7% in the 4th quarter. Signaturefd LLC now owns 588 shares of the medical research company's stock valued at $135,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analyst Ratings Changes

LH has been the topic of several recent research reports. Redburn Atlantic initiated coverage on shares of Labcorp in a report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective on the stock. Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price objective (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Barclays upped their price objective on shares of Labcorp from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Citigroup raised shares of Labcorp from a "neutral" rating to a "buy" rating and upped their price objective for the company from $250.00 to $300.00 in a report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $274.00.

Labcorp Stock Performance

NYSE LH traded up $1.65 during mid-day trading on Tuesday, reaching $262.69. 664,003 shares of the stock were exchanged, compared to its average volume of 635,447. The business's 50 day moving average is $245.76 and its 200-day moving average is $240.61. Labcorp Holdings Inc. has a 1 year low of $198.96 and a 1 year high of $264.03. The company has a market capitalization of $21.99 billion, a P/E ratio of 30.37, a P/E/G ratio of 1.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $3.68 earnings per share. On average, equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.10%. Labcorp's dividend payout ratio is presently 33.29%.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total value of $452,884.00. Following the completion of the sale, the executive vice president now directly owns 2,244 shares in the company, valued at $534,879.84. This represents a 45.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Amy B. Summy sold 758 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now owns 5,302 shares of the company's stock, valued at $1,228,314.34. This trade represents a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,092 shares of company stock worth $2,971,820. Company 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.