Brandywine Global Investment Management LLC Reduces Holdings in Labcorp Holdings Inc. $LH

Key Points

• Brandywine Global Investment Management LLC has reduced its holdings in Labcorp by 6.5%, now owning 55,102 shares worth approximately $12.8 million.
• Multiple analysts have upgraded Labcorp's stock ratings, with Morgan Stanley setting a new target price of $306 and Wall Street Zen upgrading to a "buy" rating.
• Labcorp reported a quarterly earnings per share (EPS) of $4.35, exceeding expectations, and recently declared a quarterly dividend of $0.72 per share.

Brandywine Global Investment Management LLC trimmed its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 6.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 55,102 shares of the medical research company's stock after selling 3,828 shares during the period. Brandywine Global Investment Management LLC owned about 0.07% of Labcorp worth $12,824,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LH. Golden State Wealth Management LLC increased its stake in 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 buying an additional 52 shares during the period. North Capital Inc. purchased a new stake in Labcorp during the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC purchased a new stake in Labcorp during the 1st quarter worth approximately $28,000. Larson Financial Group LLC increased its stake in 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 buying an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Labcorp in the 1st quarter valued at approximately $31,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

Labcorp stock traded up $5.6660 during trading hours on Tuesday, reaching $276.1560. 837,356 shares of the stock were exchanged, compared to its average volume of 723,757. The firm's 50 day moving average is $260.17 and its 200 day moving average is $247.45. 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 market cap of $22.95 billion, a P/E ratio of 30.48, a P/E/G ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47.

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, 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 net margin of 5.66% and a return on equity of 15.45%. The business's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Insiders Place Their Bets

In other news, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction dated 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 $2,426,480. This trade represents a 28.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,046 shares of company stock worth $4,831,192. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. Truist Financial increased their price objective on shares of Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Robert W. Baird increased their price objective on shares of Labcorp from $290.00 to $302.00 and gave the company an "outperform" 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, Labcorp presently has an average rating of "Moderate Buy" and a consensus price target of $289.58.

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.