J. Safra Sarasin Holding AG Acquires 9,287 Shares of Labcorp Holdings Inc. (NYSE:LH)

Key Points

• J. Safra Sarasin Holding AG significantly increased its stake in Labcorp Holdings by acquiring an additional 9,287 shares, raising its total holdings to 11,550 shares valued at $2.69 million.
• Labcorp reported earnings of $4.35 per share, exceeding analysts' expectations, with a revenue of $3.53 billion for the quarter, marking a 9.6% year-over-year increase.
• The company announced a quarterly dividend of $0.72 per share, reflecting an annualized dividend yield of 1.1% and a payout ratio of 31.79%.

J. Safra Sarasin Holding AG lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 410.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,550 shares of the medical research company's stock after buying an additional 9,287 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Labcorp were worth $2,688,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wedmont Private Capital grew its stake in 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 acquiring an additional 44 shares during the period. Cidel Asset Management Inc. grew its stake in Labcorp by 5.5% in the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock worth $219,000 after purchasing an additional 49 shares in the last quarter. Resonant Capital Advisors LLC increased its holdings in shares of Labcorp by 1.5% in the 1st quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock valued at $813,000 after acquiring an additional 51 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after buying an additional 52 shares during the last quarter. Finally, Colonial Trust Co SC grew its holdings in shares of Labcorp by 3.2% during the fourth quarter. Colonial Trust Co SC now owns 1,722 shares of the medical research company's stock valued at $395,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Trading Up 0.5%

Shares of LH stock opened at $261.34 on Friday. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. 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 stock has a 50 day simple moving average of $256.06 and a 200-day simple moving average of $245.54. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.67 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during 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 firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $3.94 EPS. On average, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's payout ratio is currently 31.79%.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the transaction, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the completion of the transaction, the chief executive officer owned 98,962 shares in the company, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,605 shares of company stock worth $3,784,897 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LH shares. Barclays reiterated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Morgan Stanley boosted their price target on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Truist Financial increased their price target on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group increased their target price on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Finally, Robert W. Baird boosted their target price on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $289.58.

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.

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