Southeast Asset Advisors LLC Acquires 4,020 Shares of Labcorp Holdings Inc. $LH

Key Points

• Southeast Asset Advisors LLC increased its holdings in Labcorp by 48.3% in Q1, now owning 12,346 shares valued at approximately $2.87 million.
• Labcorp's recent quarterly earnings showed an EPS of $4.35, exceeding estimates, with a revenue of $3.53 billion, a 9.6% year-over-year increase.
• The company also announced a quarterly dividend of $0.72 per share, reflecting an annualized yield of 1.0% and a payout ratio of 31.79%.

Southeast Asset Advisors LLC increased its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 48.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,346 shares of the medical research company's stock after purchasing an additional 4,020 shares during the quarter. Southeast Asset Advisors LLC's holdings in Labcorp were worth $2,873,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Select Equity Group L.P. lifted its position in Labcorp by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after purchasing an additional 959,981 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Labcorp by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after buying an additional 807,539 shares during the period. Invesco Ltd. raised its holdings in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after purchasing an additional 280,011 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Labcorp during the 4th quarter valued at about $48,693,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Analysts Set New Price Targets

LH has been the topic of a number of research analyst reports. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a report on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Evercore ISI raised their price objective on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, UBS Group raised their target price on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Nine equities 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 stock. According to MarketBeat, Labcorp currently has an average rating of "Moderate Buy" and a consensus target price of $290.33.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at $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. Over the last ninety days, insiders have sold 18,046 shares of company stock worth $4,831,192. Company insiders own 0.84% of the company's stock.

Labcorp Stock Up 0.8%

Shares of LH stock traded up $2.30 during mid-day trading on Tuesday, hitting $278.41. The company's stock had a trading volume of 449,090 shares, compared to its average volume of 531,874. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The stock has a market cap of $23.14 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 1.77 and a beta of 0.78. The business has a 50-day moving average price of $261.80 and a 200 day moving average price of $248.48.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the company earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's payout ratio is presently 31.79%.

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.