Labcorp Holdings Inc. $LH Position Increased by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Labcorp Holdings Inc. by 3.0% in Q1, owning 35,180 shares worth approximately $8.19 million after adding 1,039 shares.
• Labcorp's recent quarterly earnings report revealed an EPS of $4.35, surpassing analysts' expectations, and its revenue of $3.53 billion was up by 9.6% year-over-year.
• The company announced a quarterly dividend of $0.72, equating to an annualized yield of 1.0%, with a payout ratio of 31.79%.

Banco Bilbao Vizcaya Argentaria S.A. grew its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,180 shares of the medical research company's stock after acquiring an additional 1,039 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Labcorp were worth $8,187,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of LH. Select Equity Group L.P. lifted its position in Labcorp by 150.9% in the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares during the last quarter. GAMMA Investing LLC lifted its position in Labcorp by 37,334.2% in the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after purchasing an additional 807,539 shares during the last quarter. Invesco Ltd. lifted its position in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock valued at $330,750,000 after purchasing an additional 318,865 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Labcorp by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after purchasing an additional 280,011 shares during the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Labcorp in the 4th quarter valued at about $48,693,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Stock Up 2.1%

LH stock opened at $276.1560 on Wednesday. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The company has a market capitalization of $22.95 billion, a price-to-earnings ratio of 30.48, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. The firm's 50-day moving average is $260.17 and its two-hundred day moving average is $247.45. 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 results on Thursday, July 24th. The medical research company reported $4.35 EPS 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 company 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 firm earned $3.94 EPS. Labcorp's revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's payout ratio is currently 31.79%.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director directly owned 8,666 shares in the company, valued at $2,426,480. The trade was a 28.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the sale, the chief executive officer owned 93,319 shares in the company, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,046 shares of company stock worth $4,831,192. Company insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on LH. 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 research 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 research report on Friday, July 25th. Piper Sandler reiterated a "neutral" rating and issued a $280.00 price objective (up from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. 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 research report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Labcorp presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.