Labcorp Holdings Inc. (NYSE:LH) Stock Holdings Lifted by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group Inc. increased its stake in Labcorp by 5.0%, owning 26,796 shares valued at approximately $6.24 million.
• Labcorp reported $4.35 EPS for the last quarter, exceeding expectations and showing a 9.6% revenue increase compared to the previous year.
• The company declared a quarterly dividend of $0.72 per share, which will be paid on September 11th, equating to an annualized yield of 1.1%.

Jefferies Financial Group Inc. lifted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,796 shares of the medical research company's stock after buying an additional 1,283 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Labcorp were worth $6,237,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Foster & Motley Inc. raised its holdings in shares of Labcorp by 1.7% during the 1st quarter. Foster & Motley Inc. now owns 8,280 shares of the medical research company's stock valued at $1,927,000 after buying an additional 140 shares during the period. Natixis Advisors LLC increased its holdings in Labcorp by 9.6% during the 1st quarter. Natixis Advisors LLC now owns 350,933 shares of the medical research company's stock worth $81,676,000 after purchasing an additional 30,781 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in Labcorp by 2.9% during the 1st quarter. Arkadios Wealth Advisors now owns 2,100 shares of the medical research company's stock worth $489,000 after purchasing an additional 59 shares during the last quarter. Tredje AP fonden increased its holdings in Labcorp by 96.8% during the 1st quarter. Tredje AP fonden now owns 26,266 shares of the medical research company's stock worth $6,113,000 after purchasing an additional 12,918 shares during the last quarter. Finally, Federated Hermes Inc. increased its holdings in Labcorp by 186.8% during the 1st quarter. Federated Hermes Inc. now owns 826 shares of the medical research company's stock worth $192,000 after purchasing an additional 538 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LH has been the topic of several analyst reports. Morgan Stanley lifted their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Robert W. Baird lifted their price objective on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" 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 objective on the stock. in a report on Thursday, July 10th. Finally, Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of "Moderate Buy" and an average target price of $289.58.

Labcorp Stock Performance

NYSE:LH traded up $1.26 during midday trading on Friday, reaching $261.34. 652,995 shares of the company traded hands, compared to its average volume of 884,307. 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 Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47. The company has a fifty day moving average price of $256.06 and a 200 day moving average price of $245.59. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 28.85, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the firm posted $3.94 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts expect 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 will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's dividend payout ratio is presently 31.79%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer owned 98,962 shares of the company's stock, valued at approximately $24,614,818.26. The trade was a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,605 shares of company stock worth $3,784,897 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

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.