Credit Agricole S A Sells 5,651 Shares of Labcorp Holdings Inc. $LH

Key Points

• Credit Agricole S A reduced its stake in Labcorp by 18.3%, now holding 25,247 shares valued at approximately $5.88 million.
• Multiple institutional investors adjusted their positions in Labcorp, with Golden State Wealth Management LLC increasing its stake by 88.1% during the first quarter.
• The company reported an EPS of $4.35 for the last quarter, exceeding analyst expectations and setting a FY 2025 guidance of 16.050-16.500 EPS.

Credit Agricole S A trimmed its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 18.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,247 shares of the medical research company's stock after selling 5,651 shares during the period. Credit Agricole S A's holdings in Labcorp were worth $5,876,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Wedmont Private Capital boosted its holdings in Labcorp by 5.0% during the first 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 period. Horizon Investments LLC boosted its holdings in Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after purchasing an additional 48 shares in the last quarter. Cidel Asset Management Inc. boosted its holdings in Labcorp by 5.5% during the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock valued at $219,000 after purchasing an additional 49 shares in the last quarter. Resonant Capital Advisors LLC boosted its holdings in Labcorp by 1.5% during the first quarter. Resonant Capital Advisors LLC now owns 3,493 shares of the medical research company's stock valued at $813,000 after purchasing an additional 51 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after buying an additional 52 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LH. Robert W. Baird set a $311.00 price target on shares of Labcorp in a report on Monday. Morgan Stanley lifted their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research note on Thursday, July 10th. Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Labcorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.33.

Labcorp Trading Up 0.8%

Shares of NYSE LH traded up $2.30 during midday trading on Tuesday, reaching $278.41. 449,090 shares of the stock were exchanged, compared to its average volume of 715,860. The business has a 50-day simple moving average of $261.42 and a two-hundred day simple moving average of $248.27. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 30.73, a P/E/G ratio of 1.78 and a beta of 0.78. 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.

Labcorp (NYSE:LH - Get Free Report) last issued 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 company 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 firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

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.