Labcorp Holdings Inc. $LH Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Labcorp Holdings by 3.0% during Q1, reaching a total of approximately 1.01 million shares valued at $235.89 million.
• Labcorp reported $4.35 EPS for the last quarter, exceeding analysts' estimates, with revenues totaling $3.53 billion, indicating a growth of 9.6% year-over-year.
• The company announced a quarterly dividend of $0.72 per share, yielding 1.0% annually, with an expected payout ratio of 31.79%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,013,526 shares of the medical research company's stock after acquiring an additional 29,299 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.21% of Labcorp worth $235,888,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 52 shares during the period. North Capital Inc. acquired a new stake in shares of Labcorp in the first quarter valued at about $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp in the first quarter valued at about $28,000. Larson Financial Group LLC lifted its stake in shares of 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 purchasing an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Labcorp in the first quarter valued at about $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $280.02 on Friday. The company has a market cap of $23.27 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47. 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 50-day simple moving average of $265.53 and a 200-day simple moving average of $250.94.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The business 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 company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp's payout ratio is 31.79%.

Insider Activity at Labcorp

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock valued at $4,207,192 over the last three months. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

LH has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. UBS Group raised their price objective 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. Barclays restated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Truist Financial raised their target price on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Robert W. Baird set a $311.00 target price on shares of Labcorp in a report on Monday, August 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $290.33.

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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