Labcorp Holdings Inc. $LH Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC has increased its holdings in Labcorp Holdings Inc. by 145%, now owning 62,816 shares valued at approximately $14.62 million.
• Labcorp reported $4.35 EPS for the quarter, surpassing expectations, with a revenue of $3.53 billion, reflecting a 9.6% increase year-over-year.
• The company recently announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.0%.

Gotham Asset Management LLC lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 145.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,816 shares of the medical research company's stock after purchasing an additional 37,173 shares during the period. Gotham Asset Management LLC owned about 0.08% of Labcorp worth $14,620,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of LH. Golden State Wealth Management LLC grew its stake 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 valued at $26,000 after acquiring an additional 52 shares in the last quarter. North Capital Inc. purchased a new stake in Labcorp during the 1st quarter valued at about $27,000. TruNorth Capital Management LLC purchased a new stake in Labcorp during the 1st quarter valued at about $28,000. Larson Financial Group LLC grew 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 valued at $29,000 after acquiring an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Labcorp during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Stock Down 0.1%

Shares of Labcorp stock traded down $0.38 during trading on Friday, hitting $279.34. 67,477 shares of the stock were exchanged, compared to its average volume of 692,971. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The firm's 50-day moving average price is $265.53 and its 200 day moving average price is $250.94. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 30.83, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last announced 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period in the prior year, the firm posted $3.94 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio is presently 31.79%.

Wall Street Analyst Weigh In

LH has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Barclays reiterated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Truist Financial upped their price objective on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, July 25th. UBS Group upped their price objective on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.33.

Insider Activity

In other news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction dated 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 owned 8,666 shares of the company's stock, valued at $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. The trade was a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock worth $4,207,192 over the last quarter. 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.