Labcorp Holdings Inc. $LH Shares Bought by Vanguard Personalized Indexing Management LLC

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Labcorp Holdings Inc. by 24.6%, owning 12,770 shares worth approximately $3.35 million as per the latest SEC filing.
• Labcorp's CEO, Adam H. Schechter, sold 5,643 shares of the company's stock for approximately $1.51 million, representing a 5.7% decrease in his holdings.
• The medical research company reported a 9.6% year-over-year revenue growth to $3.53 billion in its latest earnings report, exceeding analyst expectations.

Vanguard Personalized Indexing Management LLC raised its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 24.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,770 shares of the medical research company's stock after buying an additional 2,521 shares during the period. Vanguard Personalized Indexing Management LLC's holdings in Labcorp were worth $3,353,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC increased its position in shares of Labcorp by 34.7% during the second quarter. Concurrent Investment Advisors LLC now owns 2,509 shares of the medical research company's stock worth $659,000 after purchasing an additional 646 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Labcorp during the second quarter worth about $169,000. Aberdeen Group plc increased its position in shares of Labcorp by 5.1% during the second quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company's stock worth $19,589,000 after purchasing an additional 3,599 shares in the last quarter. Blue Trust Inc. increased its position in shares of Labcorp by 11.6% during the second quarter. Blue Trust Inc. now owns 637 shares of the medical research company's stock worth $167,000 after purchasing an additional 66 shares in the last quarter. Finally, Ramirez Asset Management Inc. increased its position in shares of Labcorp by 44.8% during the second quarter. Ramirez Asset Management Inc. now owns 1,297 shares of the medical research company's stock worth $340,000 after purchasing an additional 401 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,046 shares of company stock valued at $4,074,692. Company insiders own 0.84% of the company's stock.

Labcorp Stock Performance

NYSE LH opened at $280.02 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $275.89 and its two-hundred day moving average is $256.69. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $289.20. The stock has a market capitalization of $23.27 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.77 and a beta of 0.89.

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 (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter in the previous year, the firm posted $3.94 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LH shares. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Evercore ISI boosted their price target on Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. Finally, Truist Financial set a $320.00 price target on Labcorp in a research report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.83.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.