Hunter Perkins Capital Management LLC lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 7.3% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 105,147 shares of the medical research company's stock after selling 8,292 shares during the period. Labcorp makes up approximately 6.5% of Hunter Perkins Capital Management LLC's portfolio, making the stock its 2nd biggest holding. Hunter Perkins Capital Management LLC owned about 0.13% of Labcorp worth $27,602,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB grew its holdings in Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock worth $114,000 after buying an additional 40 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of Labcorp by 0.3% in the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company's stock worth $4,022,000 after acquiring an additional 40 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Labcorp by 5.0% in the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock valued at $204,000 after purchasing an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock valued at $778,000 after purchasing an additional 45 shares in the last quarter. Finally, Tempus Wealth Planning LLC lifted its position in shares of Labcorp by 2.0% during the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company's stock valued at $613,000 after purchasing an additional 45 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Labcorp
In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer owned 93,319 shares of the company's stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock worth $4,074,692 over the last ninety days. Corporate insiders own 0.84% of the company's stock.
Analyst Ratings Changes
LH has been the subject of several analyst reports. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Barclays increased their price target on shares of Labcorp from $275.00 to $290.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Evercore ISI boosted their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a research note on Friday. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $292.00.
View Our Latest Analysis on Labcorp
Labcorp Price Performance
NYSE:LH opened at $276.56 on Monday. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $289.20. The firm has a market capitalization of $22.98 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The stock has a fifty day moving average of $273.70 and a 200 day moving average of $254.67.
Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.
Labcorp Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were issued a $0.72 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's dividend payout ratio is 31.79%.
About Labcorp
(
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.
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