IFM Investors Pty Ltd Increases Holdings in Labcorp Holdings Inc. (NYSE:LH)

IFM Investors Pty Ltd lifted its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,619 shares of the medical research company's stock after buying an additional 1,164 shares during the quarter. IFM Investors Pty Ltd's holdings in Labcorp were worth $3,714,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC boosted its position in Labcorp by 5.5% during the first quarter. OneDigital Investment Advisors LLC now owns 7,207 shares of the medical research company's stock worth $1,677,000 after purchasing an additional 373 shares during the period. Calamos Advisors LLC boosted its position in Labcorp by 1.1% during the first quarter. Calamos Advisors LLC now owns 45,282 shares of the medical research company's stock worth $10,539,000 after purchasing an additional 504 shares during the period. Checchi Capital Advisers LLC boosted its position in Labcorp by 7.7% during the first quarter. Checchi Capital Advisers LLC now owns 1,063 shares of the medical research company's stock worth $247,000 after purchasing an additional 76 shares during the period. North Capital Inc. bought a new stake in Labcorp during the first quarter worth approximately $27,000. Finally, D.A. Davidson & CO. boosted its position in Labcorp by 1.8% during the first quarter. D.A. Davidson & CO. now owns 11,851 shares of the medical research company's stock worth $2,758,000 after purchasing an additional 204 shares during the period. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

Shares of Labcorp stock traded down $0.19 during trading on Tuesday, reaching $257.68. 654,647 shares of the company's stock were exchanged, compared to its average volume of 641,740. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84. Labcorp Holdings Inc. has a 1-year low of $198.96 and a 1-year high of $265.72. The company has a market cap of $21.57 billion, a P/E ratio of 29.79, a PEG ratio of 1.66 and a beta of 0.82. The firm's 50-day moving average price is $252.66 and its 200 day moving average price is $242.56.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.11. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the previous year, the company posted $3.68 EPS. The business's revenue was up 5.3% on a year-over-year basis. As a group, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th were paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.12%. Labcorp's dividend payout ratio (DPR) is presently 33.29%.

Analysts Set New Price Targets

LH has been the subject of a number of recent research reports. Redburn Atlantic started coverage on shares of Labcorp in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Robert W. Baird lifted their price objective on Labcorp from $253.00 to $267.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Truist Financial lifted their target price on Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Barclays reiterated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Wall Street Zen downgraded Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.08.

Insider Transactions at Labcorp

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the sale, the executive vice president owned 30,067 shares of the company's stock, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the sale, the director directly owned 12,166 shares of the company's stock, valued at $3,223,990. This trade represents a 3.95% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,834 shares of company stock valued at $2,928,714. 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.