Labcorp Holdings Inc. $LH Shares Purchased by Avior Wealth Management LLC

Key Points

• Avior Wealth Management LLC significantly increased its stake in Labcorp Holdings Inc. by 23,247.4% in the second quarter, bringing its total holdings to 4,436 shares valued at approximately $1.16 million.
• Insiders at Labcorp sold a total of 15,046 shares valued at over $4 million in the last quarter, indicating a notable decrease in their ownership positions.
• Labcorp reported a positive quarterly performance, with earnings per share of $4.35, exceeding estimates, and a 9.6% year-over-year increase in revenue totaling $3.53 billion.

Avior Wealth Management LLC increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 23,247.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,436 shares of the medical research company's stock after purchasing an additional 4,417 shares during the period. Avior Wealth Management LLC's holdings in Labcorp were worth $1,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of LH. MassMutual Private Wealth & Trust FSB raised its holdings in Labcorp by 10.2% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock valued at $114,000 after acquiring an additional 40 shares during the last quarter. Wedmont Private Capital raised its holdings in Labcorp by 5.0% in the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock valued at $204,000 after acquiring an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock worth $778,000 after buying an additional 45 shares during the last quarter. Tempus Wealth Planning LLC increased its holdings in shares of Labcorp by 2.0% during the 2nd quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company's stock worth $613,000 after buying an additional 45 shares during the last quarter. Finally, Horizon Investments LLC increased its holdings in shares of Labcorp by 4.2% during the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock worth $278,000 after buying an additional 48 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity at Labcorp

In related news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction 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 sale, the director owned 8,666 shares in the company, valued at $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 over the last quarter. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

Shares of LH stock opened at $282.65 on Tuesday. The stock has a market capitalization of $23.49 billion, a PE ratio of 31.20, a P/E/G ratio of 1.79 and a beta of 0.85. The firm has a 50 day moving average of $271.96 and a two-hundred day moving average of $253.50. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47. 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 (NYSE:LH - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Morgan Stanley raised their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Finally, Truist Financial raised their price target on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Nine 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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