Intech Investment Management LLC Increases Position in Labcorp Holdings Inc. $LH

Key Points

• Intech Investment Management LLC increased its holdings in Labcorp Holdings Inc. by 245.3%, acquiring an additional 7,900 shares in the first quarter, bringing its total to 11,120 shares valued at approximately $2.59 million.
• Several large investors, including Golden State Wealth Management LLC and North Capital Inc., have significantly modified their stakes in Labcorp, indicating heightened institutional interest with 95.94% of shares now owned by institutional investors.
• Labcorp reported a quarterly earnings per share of $4.35, exceeding analysts’ expectations, while also announcing a quarterly dividend of $0.72 per share with a yield of 1.0%.

Intech Investment Management LLC lifted its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 245.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,120 shares of the medical research company's stock after buying an additional 7,900 shares during the period. Intech Investment Management LLC's holdings in Labcorp were worth $2,588,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC boosted its position in Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after buying an additional 52 shares during the period. North Capital Inc. purchased a new stake in Labcorp in the 1st quarter valued at about $27,000. TruNorth Capital Management LLC purchased a new stake in Labcorp in the 1st quarter valued at about $28,000. Larson Financial Group LLC boosted its position in Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after buying an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Labcorp in the 1st quarter valued at about $31,000. 95.94% of the stock is currently owned by institutional investors.

Labcorp Trading Down 0.0%

Labcorp stock traded down $0.08 during midday trading on Friday, hitting $277.07. 1,064,764 shares of the stock were exchanged, compared to its average volume of 390,173. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The stock has a market capitalization of $23.02 billion, a price-to-earnings ratio of 30.58, a PEG ratio of 1.77 and a beta of 0.85. The stock's 50-day simple moving average is $267.90 and its 200 day simple moving average is $251.92. 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 (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. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on LH shares. Morgan Stanley boosted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. HSBC cut shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Finally, Robert W. Baird set a $311.00 price target on shares of Labcorp in a research report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $290.33.

Insider Transactions at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director directly owned 8,666 shares of the company's stock, valued at $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the transaction, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,546 shares of company stock valued at $4,207,192. 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.