Ironvine Capital Partners LLC Lowers Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• Ironvine Capital Partners LLC reduced its holdings in Labcorp Holdings Inc. by 1.9%, now owning 90,659 shares, which constitutes 2.3% of its investment portfolio.
• Labcorp reported a quarterly earnings per share (EPS) of $4.35, surpassing analyst expectations, with a revenue increase of 9.6% compared to the same quarter last year.
• The firm declared a quarterly dividend of $0.72 per share, representing an annualized yield of 1.0% and a payout ratio of 31.79%.

Ironvine Capital Partners LLC lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 1.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,659 shares of the medical research company's stock after selling 1,713 shares during the quarter. Labcorp makes up 2.3% of Ironvine Capital Partners LLC's portfolio, making the stock its 19th biggest position. Ironvine Capital Partners LLC owned 0.11% of Labcorp worth $21,100,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. Wedmont Private Capital lifted its holdings in shares of Labcorp by 5.0% in the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock worth $204,000 after buying an additional 44 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock valued at $778,000 after buying an additional 45 shares in the last quarter. Horizon Investments LLC increased its position in Labcorp by 4.2% during the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after buying an additional 48 shares in the last quarter. Cidel Asset Management Inc. increased its position in Labcorp by 5.5% during the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock valued at $219,000 after buying an additional 49 shares in the last quarter. Finally, Synovus Financial Corp increased its position in Labcorp by 3.7% during the 1st quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock valued at $323,000 after buying an additional 49 shares in the last quarter. Institutional investors own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LH. Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Truist Financial increased their price objective on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, July 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Barclays reissued a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Finally, Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Labcorp presently has a consensus rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Stock Performance

Shares of LH traded up $0.89 during mid-day trading on Tuesday, reaching $278.10. The company had a trading volume of 402,898 shares, compared to its average volume of 699,936. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $23.11 billion, a P/E ratio of 30.70, a PEG ratio of 1.78 and a beta of 0.85. The stock has a 50 day moving average of $264.63 and a two-hundred day moving average of $250.40.

Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the prior year, the business earned $3.94 earnings per share. The company's revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a $0.72 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's dividend payout ratio is presently 31.79%.

Insider Buying and Selling

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,046 shares of company stock worth $4,337,192 over the last ninety days. 0.84% of the stock is owned by corporate insiders.

About Labcorp

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