Labcorp Holdings Inc. $LH Shares Sold by Hahn Capital Management LLC

Key Points

• Hahn Capital Management LLC reduced its stake in Labcorp Holdings by 9.3%, now holding 35,121 shares valued at approximately $8.17 million.
• Labcorp's CEO, Adam H. Schechter, sold 5,643 shares for over $1.5 million, representing a 5.70% decrease in his ownership.
• Labcorp recently declared a quarterly dividend of $0.72 per share, translating to an annualized dividend yield of 1.0%.

Hahn Capital Management LLC decreased its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 9.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,121 shares of the medical research company's stock after selling 3,599 shares during the quarter. Labcorp accounts for 4.0% of Hahn Capital Management LLC's portfolio, making the stock its 12th largest position. Hahn Capital Management LLC's holdings in Labcorp were worth $8,174,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Wedmont Private Capital boosted its stake in shares of 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 acquiring an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock worth $778,000 after acquiring an additional 45 shares during the last quarter. Horizon Investments LLC boosted its stake in shares of Labcorp by 4.2% during the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after acquiring an additional 48 shares during the last quarter. Cidel Asset Management Inc. boosted its stake in shares of Labcorp by 5.5% during the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after acquiring an additional 49 shares during the last quarter. Finally, Synovus Financial Corp boosted its stake in shares of Labcorp by 3.7% during the 1st quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock worth $323,000 after acquiring an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on LH. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Morgan Stanley raised their price target on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Finally, UBS Group boosted their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Labcorp presently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president directly owned 2,274 shares of the company's stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,546 shares of company stock valued at $4,207,192. 0.84% of the stock is owned by corporate insiders.

Labcorp Stock Performance

Shares of NYSE:LH traded up $1.88 on Wednesday, hitting $275.97. 110,991 shares of the company were exchanged, compared to its average volume of 688,210. The firm has a market capitalization of $22.93 billion, a P/E ratio of 30.46, a price-to-earnings-growth ratio of 1.76 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The stock's 50 day moving average price is $266.54 and its 200 day moving average price is $251.46.

Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The company 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 firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp's dividend payout ratio is 31.79%.

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.