Labcorp Holdings Inc. $LH Shares Acquired by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH boosted its stake in Labcorp Holdings Inc. by 30.2%, acquiring 48,063 additional shares, bringing its total ownership to 207,391 shares valued at approximately $54.4 million.
• Labcorp reported $4.35 earnings per share in its recent quarter, exceeding estimates, with a revenue of $3.53 billion, marking a 9.6% increase year-over-year.
• The company announced a quarterly dividend of $0.72 per share, with a yield of 1.0%, to be paid on December 11th to shareholders of record on November 26th.

Allianz Asset Management GmbH raised its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 30.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 207,391 shares of the medical research company's stock after purchasing an additional 48,063 shares during the period. Allianz Asset Management GmbH owned 0.25% of Labcorp worth $54,442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LH. Golden State Wealth Management LLC increased its position in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. acquired a new position in Labcorp during the first quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp during the first quarter worth approximately $28,000. Larson Financial Group LLC increased its position in Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in Labcorp during the first quarter worth approximately $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Price Performance

Shares of LH stock opened at $285.66 on Friday. The company has a market capitalization of $23.74 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.81 and a beta of 0.89. The firm has a fifty day simple moving average of $277.19 and a 200-day simple moving average of $257.58. 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 Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $289.20.

Labcorp (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share 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 business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the firm earned $3.94 earnings per share. The business's quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th 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 Wednesday, November 26th. Labcorp's dividend payout ratio is 31.79%.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction on 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 in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LH shares. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a research report on Wednesday, October 8th. Barclays boosted their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 2nd. UBS Group boosted their price objective on shares of Labcorp from $305.00 to $325.00 and gave the stock a "buy" rating in a research note on Friday. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Finally, Mizuho boosted their price objective on shares of Labcorp from $285.00 to $320.00 and gave the stock an "outperform" rating in a research note on Friday. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $296.46.

About Labcorp

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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