Labcorp Holdings Inc. $LH Shares Sold by Sequoia Financial Advisors LLC

Key Points

• Sequoia Financial Advisors cut its Labcorp position by 5.5% in Q1, selling 6,982 shares and leaving it with 120,636 shares valued at about $32.2 million.
• Labcorp reported better-than-expected Q1 results, with EPS of $4.25 versus $4.09 expected and revenue of $3.54 billion, up 5.8% year over year.
• The company announced a quarterly dividend of $0.72 per share, payable Sept. 11, implying an annualized yield of about 1.0%.

Sequoia Financial Advisors LLC reduced its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,636 shares of the medical research company's stock after selling 6,982 shares during the quarter. Sequoia Financial Advisors LLC owned about 0.15% of Labcorp worth $32,187,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LH. Thurston Springer Miller Herd & Titak Inc. bought a new position in Labcorp during the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC bought a new stake in Labcorp in the fourth quarter worth about $27,000. JPL Wealth Management LLC bought a new stake in Labcorp in the third quarter worth about $28,000. Eagle Bay Advisors LLC acquired a new position in shares of Labcorp in the 4th quarter worth approximately $29,000. Finally, DV Equities LLC bought a new stake in shares of Labcorp in the 4th quarter worth approximately $29,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Down 0.3%

Shares of Labcorp stock traded down $0.82 during trading on Friday, hitting $276.81. The stock had a trading volume of 432,958 shares, compared to its average volume of 587,229. The stock has a 50 day simple moving average of $264.07 and a 200 day simple moving average of $267.08. The company has a market capitalization of $22.70 billion, a PE ratio of 24.52, a P/E/G ratio of 1.94 and a beta of 0.89. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 1 year low of $241.81 and a 1 year high of $293.72.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the firm earned $3.84 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 18 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 28th. Labcorp's dividend payout ratio is currently 25.51%.

Insider Transactions at Labcorp

In related news, EVP Kathryn W. Kyle sold 762 shares of the firm's stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president owned 3,813 shares of the company's stock, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company's stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Robert W. Baird set a $334.00 price target on shares of Labcorp in a research report on Friday, May 1st. Wall Street Zen lowered Labcorp from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Evercore restated an "outperform" rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $313.33.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp NYSE: LH, is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp's core businesses encompass clinical laboratory testing and pharmaceutical development services.

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