J. Safra Sarasin Holding AG Decreases Stock Position in Labcorp Holdings Inc. $LH

Key Points

• J. Safra Sarasin Holding AG significantly reduced its stake in Labcorp Holdings Inc. by 89.7%, now owning only 1,195 shares after selling 10,355 shares in the second quarter.
• Analysts have mixed opinions on Labcorp, with ten giving a Buy rating while four maintain a Hold rating, and price targets ranging from $292 to $311.
• Labcorp announced a quarterly dividend of $0.72, which equates to an annualized yield of 1.0% and follows a successful quarterly earnings report, beating estimates with earnings per share of $4.35.

J. Safra Sarasin Holding AG cut its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 89.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,195 shares of the medical research company's stock after selling 10,355 shares during the period. J. Safra Sarasin Holding AG's holdings in Labcorp were worth $314,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its holdings in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after acquiring an additional 52 shares in the last quarter. North Capital Inc. acquired a new stake in Labcorp in the first quarter valued at $27,000. TruNorth Capital Management LLC acquired a new stake in Labcorp in the first quarter valued at $28,000. Larson Financial Group LLC raised its holdings in Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after acquiring an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Labcorp in the first quarter valued at $31,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Truist Financial increased their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Evercore ISI increased their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Robert W. Baird set a $311.00 target price on shares of Labcorp in a report on Monday, August 25th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Labcorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.00.

Labcorp Stock Down 1.0%

LH stock opened at $276.56 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $289.20. The firm's 50-day simple moving average is $273.70 and its 200 day simple moving average is $254.54. The stock has a market cap of $22.98 billion, a PE ratio of 30.52, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last released 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter last year, the company earned $3.94 EPS. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

Insider Activity at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the 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 transaction, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares of the company's stock, valued at $2,426,480. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is currently owned by corporate insiders.

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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