Labcorp Holdings Inc. $LH Shares Bought by Allstate Corp

Key Points

• Allstate Corp increased its stake in Labcorp Holdings Inc. by 67.7% in Q1, holding shares valued at approximately $1,006,000 after acquiring an additional 1,746 shares.
• Labcorp's recent quarterly earnings outperformed analysts' expectations, reporting an EPS of $4.35 and revenues of $3.53 billion, marking a 9.6% increase year-over-year.
• The company declared a quarterly dividend of $0.72 per share and has a dividend yield of 1.0%, highlighting its ongoing commitment to return value to shareholders.

Allstate Corp raised its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 67.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,324 shares of the medical research company's stock after acquiring an additional 1,746 shares during the period. Allstate Corp's holdings in Labcorp were worth $1,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Labcorp

In other news, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the sale, the executive vice president directly owned 30,067 shares in the company, valued at approximately $7,426,549. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director owned 8,666 shares of the company's stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is currently owned by company insiders.

Labcorp Price Performance

Shares of NYSE:LH opened at $277.9660 on Monday. 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 company has a market cap of $23.10 billion, a P/E ratio of 30.68, a PEG ratio of 1.78 and a beta of 0.78. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The company has a 50-day moving average price of $261.17 and a 200 day moving average price of $248.06.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently declared 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 1.0%. Labcorp's payout ratio is 31.79%.

Analyst Upgrades and Downgrades

LH has been the subject of several recent research reports. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Piper Sandler reiterated a "neutral" rating and set a $280.00 target price (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. UBS Group increased their target price on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays reiterated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Morgan Stanley increased their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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