Labcorp Holdings Inc. $LH Shares Bought by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors increased its Labcorp stake by 5.5% in the second quarter, bringing its holdings to 127,231 shares valued at approximately $35.6 million. Institutional investors and hedge funds collectively own 95.94% of the company.
• Labcorp exceeded quarterly expectations with $4.99 in EPS on $3.73 billion in revenue, while revenue rose 5.8% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $330.
• Labcorp declared a quarterly dividend of $0.72 per share, equivalent to $2.88 annually and a 0.9% yield. Company insiders have sold 8,919 shares worth about $2.83 million over the past 90 days.

Sequoia Financial Advisors LLC grew its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 127,231 shares of the medical research company's stock after acquiring an additional 6,595 shares during the quarter. Sequoia Financial Advisors LLC owned approximately 0.16% of Labcorp worth $35,625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp lifted its position in Labcorp by 106.5% in the 1st quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company's stock valued at $15,470,000 after purchasing an additional 29,899 shares during the last quarter. Geode Capital Management LLC grew its position in Labcorp by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock worth $534,023,000 after purchasing an additional 13,775 shares during the last quarter. CIBC Asset Management Inc grew its position in Labcorp by 61.3% in the 4th quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company's stock worth $5,011,000 after purchasing an additional 7,592 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the period. Finally, BNP Paribas Financial Markets raised its holdings in shares of Labcorp by 125.2% during the fourth quarter. BNP Paribas Financial Markets now owns 253,352 shares of the medical research company's stock valued at $63,561,000 after buying an additional 140,869 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Labcorp

In other Labcorp news, EVP Kathryn Kyle sold 92 shares of the business's stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the transaction, the executive vice president owned 3,904 shares of the company's stock, valued at $1,117,285.76. The trade was a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam Schechter sold 4,669 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the sale, the chief executive officer directly owned 102,565 shares in the company, valued at $32,858,749.05. This trade represents a 4.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 8,919 shares of company stock worth $2,826,593. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on LH shares. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $306.00 price target on shares of Labcorp in a research report on Friday, July 31st. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $330.00 to $360.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Mizuho set a $355.00 price target on shares of Labcorp in a research report on Monday, August 10th. Finally, Barclays upped their target price on Labcorp from $290.00 to $320.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus target price of $330.00.

Labcorp Stock Down 1.1%

NYSE:LH opened at $321.17 on Thursday. The business's fifty day moving average price is $309.48 and its 200 day moving average price is $281.56. The firm has a market capitalization of $26.05 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 1.84 and a beta of 0.88. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. Labcorp Holdings Inc. has a 1-year low of $244.52 and a 1-year high of $341.80.

Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a $0.72 dividend. The ex-dividend date is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. Labcorp's dividend payout ratio (DPR) is presently 23.82%.

Labcorp Company Profile

Labcorp NYSE: LH, formerly Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing and related services to physicians, hospitals, health systems, employers, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including molecular, genetic, oncology, women's health, infectious disease and pathology services.

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