KBC Group NV Purchases 2,093 Shares of Labcorp Holdings Inc. (NYSE:LH)

KBC Group NV grew its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 104,060 shares of the medical research company's stock after buying an additional 2,093 shares during the quarter. KBC Group NV owned approximately 0.12% of Labcorp worth $24,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LH. LPL Financial LLC lifted its holdings in Labcorp by 63.8% during the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock worth $14,343,000 after buying an additional 24,357 shares in the last quarter. Freestone Grove Partners LP bought a new stake in shares of Labcorp during the fourth quarter worth $48,693,000. Brighton Jones LLC acquired a new position in shares of Labcorp during the fourth quarter valued at $991,000. IFP Advisors Inc lifted its stake in shares of Labcorp by 278.5% during the fourth quarter. IFP Advisors Inc now owns 352 shares of the medical research company's stock valued at $81,000 after acquiring an additional 259 shares during the period. Finally, Signaturefd LLC boosted its holdings in Labcorp by 9.7% in the fourth quarter. Signaturefd LLC now owns 588 shares of the medical research company's stock valued at $135,000 after acquiring an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Labcorp Price Performance

NYSE:LH traded up $1.89 during trading hours on Friday, hitting $261.89. The company's stock had a trading volume of 271,298 shares, compared to its average volume of 640,698. Labcorp Holdings Inc. has a twelve month low of $198.96 and a twelve month high of $265.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The stock has a fifty day simple moving average of $251.44 and a 200-day simple moving average of $241.92. The company has a market capitalization of $21.92 billion, a P/E ratio of 30.28, a PEG ratio of 1.66 and a beta of 0.82.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.10%. Labcorp's dividend payout ratio is currently 33.29%.

Insider Transactions at Labcorp

In other news, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares in the company, valued at approximately $7,426,549. The trade was a 6.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the sale, the chief executive officer directly owned 98,962 shares in the company, valued at $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,834 shares of company stock valued at $2,928,714. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Profile

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