Free Trial

Hilltop National Bank Buys Shares of 980 Labcorp Holdings Inc. $LH

Labcorp logo with Medical background

Key Points

  • Hilltop National Bank has purchased 980 shares of Labcorp Holdings Inc. valued at approximately $257,000 in the second quarter of 2023.
  • A significant number of hedge funds have increased their holdings in Labcorp, with institutional investors owning 95.94% of the company's stock.
  • Labcorp recently reported $4.35 EPS for the quarter, surpassing analyst estimates, and has set an FY 2025 EPS guidance range of 16.050-16.500.
  • Five stocks to consider instead of Labcorp.

Hilltop National Bank acquired a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 980 shares of the medical research company's stock, valued at approximately $257,000.

A number of other hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Labcorp by 7.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,257 shares of the medical research company's stock valued at $2,955,000 after buying an additional 755 shares during the period. Cornell Pochily Investment Advisors Inc. grew its stake in shares of Labcorp by 3.3% in the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 3,136 shares of the medical research company's stock valued at $823,000 after buying an additional 100 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in Labcorp by 11.9% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,073 shares of the medical research company's stock worth $282,000 after acquiring an additional 114 shares during the period. ASR Vermogensbeheer N.V. grew its position in Labcorp by 21.2% in the second quarter. ASR Vermogensbeheer N.V. now owns 3,384 shares of the medical research company's stock worth $888,000 after acquiring an additional 592 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its position in Labcorp by 0.9% in the second quarter. Bartlett & CO. Wealth Management LLC now owns 210,805 shares of the medical research company's stock worth $55,339,000 after acquiring an additional 1,785 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Insider Buying and Selling

In related news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is currently owned by company insiders.

Labcorp Stock Performance

Shares of Labcorp stock opened at $276.56 on Friday. The business has a 50-day moving average of $273.70 and a 200 day moving average of $254.43. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20. The stock has a market capitalization of $22.98 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter last year, the firm posted $3.94 earnings per share. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

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

Wall Street Analyst Weigh In

LH has been the subject of a number of research analyst reports. Truist Financial increased their price target on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. UBS Group increased their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Evercore ISI increased their price objective on shares of Labcorp from $300.00 to $305.00 and gave the stock an "outperform" rating in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $292.00.

Check Out Our Latest Research Report on Labcorp

Labcorp Profile

(Free Report)

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

Recommended Stories

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).

Institutional Ownership by Quarter for Labcorp (NYSE:LH)

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.

Should You Invest $1,000 in Labcorp Right Now?

Before you consider Labcorp, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Labcorp wasn't on the list.

While Labcorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

(Almost)  Everything You Need To Know About The EV Market Cover

Looking to profit from the electric vehicle mega-trend? Enter your email address and we'll send you our list of which EV stocks show the most long-term potential.

Get This Free Report
Like this article? Share it with a colleague.