Labcorp Holdings Inc. $LH Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden Corp significantly reduced its stake in Labcorp Holdings by 97.2%, selling 31,689 shares to end with only 900 shares valued at $236,000.
• Major analysts have mixed views on Labcorp's stock, with HSBC downgrading it to a "hold" while UBS raised its target price to $305.00 and maintained a "buy" rating.
• The company reported a quarterly earnings per share (EPS) of $4.35, exceeding analysts' expectations, and announced a quarterly dividend of $0.72 to be paid on December 11th.

Boston Trust Walden Corp cut its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 97.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 900 shares of the medical research company's stock after selling 31,689 shares during the quarter. Boston Trust Walden Corp's holdings in Labcorp were worth $236,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. NorthRock Partners LLC acquired a new stake in shares of Labcorp in the 2nd quarter valued at about $220,000. Verdence Capital Advisors LLC lifted its position in Labcorp by 9.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,373 shares of the medical research company's stock worth $1,148,000 after acquiring an additional 375 shares during the period. Sequoia Financial Advisors LLC lifted its position in Labcorp by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company's stock worth $38,320,000 after acquiring an additional 1,816 shares during the period. MGO One Seven LLC acquired a new stake in Labcorp during the 2nd quarter worth approximately $239,000. Finally, Allspring Global Investments Holdings LLC lifted its position in Labcorp by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company's stock worth $528,739,000 after acquiring an additional 43,509 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LH shares. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. UBS Group increased their target price on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Barclays increased their target price on Labcorp from $275.00 to $290.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 2nd. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Labcorp currently has a consensus rating of "Moderate Buy" and an average target price of $292.83.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction 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 transaction, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $529,900.00. Following the completion of the transaction, the director owned 6,656 shares in the company, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock worth $4,074,692 over the last ninety days. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

Labcorp stock opened at $282.53 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The stock has a fifty day moving average of $276.32 and a two-hundred day moving average of $256.87. The company has a market capitalization of $23.48 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.79 and a beta of 0.89. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $289.20.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating 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 return on equity of 15.45% and a net margin of 5.66%.The business's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

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

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