Labcorp Holdings Inc. $LH Shares Acquired by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC boosted its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 104,007 shares of the medical research company's stock after acquiring an additional 2,299 shares during the quarter. Clifford Swan Investment Counsel LLC owned about 0.12% of Labcorp worth $27,303,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Harbor Asset Planning Inc. acquired a new position in shares of Labcorp during the 2nd quarter worth $25,000. Golden State Wealth Management LLC boosted its holdings 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 buying an additional 52 shares in the last quarter. North Capital Inc. acquired a new position in Labcorp during the first quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in Labcorp in the first quarter valued at about $28,000. Finally, Larson Financial Group LLC lifted its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after acquiring an additional 73 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,546 shares of company stock valued at $3,094,692. 0.84% of the stock is currently owned by company insiders.

Labcorp Stock Performance

Shares of NYSE LH opened at $282.81 on Thursday. The company has a 50-day simple moving average of $278.16 and a 200-day simple moving average of $258.72. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The company has a market cap of $23.50 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.82 and a beta of 0.89. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter last year, the firm earned $3.94 earnings per share. The business's revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp's dividend payout ratio is presently 31.79%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group upped their price target on Labcorp from $305.00 to $325.00 and gave the stock a "buy" rating in a report on Friday, October 17th. Mizuho upped their target price on Labcorp from $285.00 to $320.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Barclays raised their price target on Labcorp from $275.00 to $290.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. Weiss Ratings reissued a "buy (b-)" rating on shares of Labcorp in a research note on Wednesday, October 8th. Finally, Morgan Stanley upped their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Labcorp has an average rating of "Moderate Buy" and a consensus target price 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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