Labcorp Holdings Inc. $LH Shares Acquired by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 51.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,940 shares of the medical research company's stock after buying an additional 22,530 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Labcorp worth $15,322,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Golden State Wealth Management LLC lifted its position in shares of 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 in the last quarter. North Capital Inc. acquired a new position in shares of Labcorp during the first quarter worth $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp during the first quarter worth $28,000. Larson Financial Group LLC lifted its position in shares of 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 in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp during the first quarter worth $31,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Truist Financial boosted their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Piper Sandler restated a "neutral" rating and issued a $280.00 price target (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research note on Thursday, July 10th. Finally, Evercore ISI lifted their price target on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Labcorp currently has a consensus rating of "Moderate Buy" and an average price target of $289.58.

Labcorp Stock Performance

LH stock traded up $5.6660 during trading on Tuesday, hitting $276.1560. 837,356 shares of the company's stock traded hands, compared to its average volume of 726,928. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. The stock has a fifty day moving average price of $260.17 and a two-hundred day moving average price of $247.45. The stock 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.

Labcorp (NYSE:LH - Get Free Report) last released 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 firm had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the firm earned $3.94 earnings per share. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio is currently 31.79%.

Insider Buying and Selling at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. 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 the company's 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 owned 8,666 shares of the company's stock, valued at $2,426,480. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,046 shares of company stock valued at $4,831,192. Corporate 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.