Price T Rowe Associates Inc. MD Has $47.46 Million Holdings in Labcorp Holdings Inc. $LH

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Labcorp by 73.1% during the first quarter, owning approximately 0.24% of the company worth $47.46 million.
• Labcorp has recently reported earnings of $4.35 per share, exceeding analyst estimates and showing a 9.6% year-over-year revenue growth.
• The company declared a $0.72 quarterly dividend, which will be paid to investors on September 11th, with an annualized yield of 1.0%.

Price T Rowe Associates Inc. MD lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 73.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 203,930 shares of the medical research company's stock after buying an additional 86,093 shares during the period. Price T Rowe Associates Inc. MD owned about 0.24% of Labcorp worth $47,464,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LH. Brighton Jones LLC acquired a new position in shares of Labcorp during the fourth quarter worth $991,000. Kovitz Investment Group Partners LLC acquired a new stake in Labcorp in the fourth quarter valued at $431,000. Northern Trust Corp increased its holdings in Labcorp by 1.0% in the fourth quarter. Northern Trust Corp now owns 1,011,116 shares of the medical research company's stock valued at $231,869,000 after purchasing an additional 9,802 shares during the period. Rehmann Capital Advisory Group increased its holdings in Labcorp by 3.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 2,938 shares of the medical research company's stock valued at $674,000 after purchasing an additional 94 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in Labcorp in the fourth quarter valued at $48,693,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on LH. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Morgan Stanley increased their price objective on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Barclays restated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Finally, HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.33.

Labcorp Trading Down 1.4%

LH traded down $3.95 during trading on Tuesday, reaching $274.04. 653,695 shares of the stock traded hands, compared to its average volume of 454,961. 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 $22.77 billion, a PE ratio of 30.25, a P/E/G ratio of 1.78 and a beta of 0.85. The stock's 50-day moving average is $263.32 and its 200 day moving average is $249.60. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion for 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 business's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp's dividend payout ratio is 31.79%.

Insider Activity at Labcorp

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction, the director directly owned 8,666 shares in the company, valued at $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,046 shares of company stock worth $4,337,192 over the last quarter. Company insiders own 0.84% of the company's stock.

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.