Ieq Capital LLC Purchases 5,833 Shares of Labcorp Holdings Inc. $LH

Key Points

• Ieq Capital LLC increased its stake in Labcorp Holdings Inc. by 36%, now owning over 22,000 shares worth approximately $5.1 million.
• Labcorp's recent quarterly earnings exceeded analysts' expectations, reporting an EPS of $4.35 and revenue of $3.53 billion, up 9.6% year-over-year.
• The company declared a quarterly dividend of $0.72 per share, representing an annualized dividend of $2.88 and a yield of 1.0%, with a payout ratio of 31.79%.

Ieq Capital LLC raised its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 36.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,022 shares of the medical research company's stock after purchasing an additional 5,833 shares during the quarter. Ieq Capital LLC's holdings in Labcorp were worth $5,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. WS Management Lllp acquired a new stake in shares of Labcorp in the first quarter worth about $23,274,000. FORA Capital LLC acquired a new stake in shares of Labcorp in the first quarter worth about $814,000. Synovus Financial Corp lifted its position in shares of Labcorp by 3.7% in the first quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock worth $323,000 after buying an additional 49 shares during the last quarter. Oak Harvest Investment Services lifted its position in shares of Labcorp by 102.2% in the first quarter. Oak Harvest Investment Services now owns 10,108 shares of the medical research company's stock worth $2,353,000 after buying an additional 5,108 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC lifted its position in shares of Labcorp by 4,110.2% in the first quarter. Campbell & CO Investment Adviser LLC now owns 37,513 shares of the medical research company's stock worth $8,731,000 after buying an additional 36,622 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LH shares. Robert W. Baird set a $311.00 price target on Labcorp in a research report on Monday, August 25th. UBS Group boosted their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Evercore ISI boosted their price target on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Finally, HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Labcorp presently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

Labcorp Trading Up 0.5%

Shares of LH stock traded up $1.34 during trading hours on Thursday, reaching $275.18. The company had a trading volume of 321,893 shares, compared to its average volume of 455,720. The company has a 50 day moving average of $263.97 and a 200 day moving average of $249.96. 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 has a market cap of $22.87 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 1.75 and a beta of 0.85. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate 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 in the prior year, the business posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Insider Transactions at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the sale, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value 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 $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,046 shares of company stock worth $4,337,192. 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.