Aberdeen Group plc Has $16.25 Million Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• Aberdeen Group plc increased its stake in Labcorp Holdings Inc. by 3.3% in Q1, holding 71,022 shares worth about $16.25 million.
• Multiple analysts provided mixed ratings on Labcorp’s stock, with current consensus showing a "Moderate Buy" and an average target price of $289.58.
• Labcorp announced a quarterly dividend of $0.72 per share, representing a 1.1% yield, to be paid on September 11th.

Aberdeen Group plc lifted its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,022 shares of the medical research company's stock after purchasing an additional 2,295 shares during the quarter. Aberdeen Group plc owned 0.08% of Labcorp worth $16,252,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Golden State Wealth Management LLC raised its stake in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Labcorp during the 1st quarter worth about $27,000. TruNorth Capital Management LLC purchased a new stake in shares of Labcorp during the 1st quarter worth about $28,000. Larson Financial Group LLC raised its stake in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Labcorp during the 1st quarter worth about $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LH. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Truist Financial raised their price target on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Finally, Robert W. Baird raised their price objective on Labcorp from $290.00 to $302.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $289.58.

Insider Activity

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the transaction, the executive vice president owned 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is currently owned by insiders.

Labcorp Stock Performance

Shares of LH traded down $1.5910 during mid-day trading on Thursday, reaching $276.5090. The company's stock had a trading volume of 384,680 shares, compared to its average volume of 687,035. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The stock has a market cap of $22.98 billion, a P/E ratio of 30.52, a PEG ratio of 1.78 and a beta of 0.78. The business has a 50-day simple moving average of $260.83 and a two-hundred day simple moving average of $247.86. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share 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 return on equity of 15.45% and a net margin of 5.66%.The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's payout ratio is currently 31.79%.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.