Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Labcorp by 6.6%, now owning approximately 1.52% of the company, valued at around $296.35 million.
• Institutional investors hold 95.94% of Labcorp's stock, indicating significant institutional interest and ownership.
• Labcorp announced a quarterly dividend of $0.72 per share, with a 1.1% yield, scheduled for payment on September 11th to shareholders of record on August 28th.

Dimensional Fund Advisors LP lessened its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,273,423 shares of the medical research company's stock after selling 90,002 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.52% of Labcorp worth $296,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freestone Grove Partners LP acquired a new stake in Labcorp during the fourth quarter valued at $48,693,000. Brighton Jones LLC acquired a new stake in Labcorp during the fourth quarter valued at $991,000. Wealth Enhancement Advisory Services LLC grew its position in Labcorp by 84.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,182 shares of the medical research company's stock valued at $8,421,000 after buying an additional 16,574 shares during the period. Wahed Invest LLC grew its position in Labcorp by 5.3% during the fourth quarter. Wahed Invest LLC now owns 2,147 shares of the medical research company's stock valued at $492,000 after buying an additional 108 shares during the period. Finally, Wealthfront Advisers LLC grew its position in Labcorp by 1.8% during the first quarter. Wealthfront Advisers LLC now owns 6,565 shares of the medical research company's stock valued at $1,528,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity

In related news, 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 completion of the sale, the executive vice president directly owned 2,274 shares in the company, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,046 shares of company stock valued at $4,831,192 in the last quarter. Insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on LH shares. Robert W. Baird raised their price target 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. 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 report on Friday, July 25th. HSBC downgraded shares of 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. UBS Group increased their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. One investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $289.58.

Labcorp Stock Performance

NYSE:LH opened at $270.60 on Friday. The company's 50-day moving average price is $259.53 and its 200-day moving average price is $247.12. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $22.49 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last released 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same period last year, the business earned $3.94 earnings per share. Labcorp's revenue was up 9.6% compared to the same quarter last year. On average, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp's payout ratio is currently 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.

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