Campbell & CO Investment Adviser LLC boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4,110.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 37,513 shares of the medical research company's stock after buying an additional 36,622 shares during the period. Labcorp makes up approximately 0.7% of Campbell & CO Investment Adviser LLC's holdings, making the stock its 2nd biggest holding. Campbell & CO Investment Adviser LLC's holdings in Labcorp were worth $8,731,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of LH. Select Equity Group L.P. raised its holdings in Labcorp by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after buying an additional 959,981 shares during the period. GAMMA Investing LLC raised its holdings in Labcorp by 37,334.2% during the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock worth $188,450,000 after buying an additional 807,539 shares during the period. Invesco Ltd. raised its holdings in Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after buying an additional 318,865 shares during the period. Lord Abbett & CO. LLC raised its holdings in Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after buying an additional 280,011 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Labcorp during the 4th quarter worth approximately $48,693,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.
Labcorp Stock Performance
Shares of NYSE:LH traded up $2.30 on Tuesday, hitting $278.41. The company had a trading volume of 449,090 shares, compared to its average volume of 531,874. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The stock has a market cap of $23.14 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.77 and a beta of 0.78. The stock has a 50 day moving average price of $261.80 and a 200 day moving average price of $248.48. 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 released 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the company earned $3.94 earnings per share. The company's quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.
Labcorp Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders 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 yield of 1.0%. The ex-dividend date is Thursday, August 28th. Labcorp's dividend payout ratio is presently 31.79%.
Insider Activity
In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,046 shares of company stock valued at $4,831,192. Company insiders own 0.84% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on LH shares. Piper Sandler reiterated a "neutral" rating and issued a $280.00 price objective (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. HSBC downgraded shares of 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. Morgan Stanley lifted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Evercore ISI lifted their price objective on shares of Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, UBS Group lifted their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Labcorp has an average rating of "Moderate Buy" and a consensus target price of $290.33.
Check Out Our Latest Report on LH
About Labcorp
(
Free Report)
Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.
Read More
Before you consider Labcorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Labcorp wasn't on the list.
While Labcorp currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
MarketBeat All Access