Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lessened its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,785 shares of the medical research company's stock after selling 3,214 shares during the period. Financial Counselors Inc. owned 0.06% of Labcorp worth $12,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LH. Graney & King LLC acquired a new stake in Labcorp in the fourth quarter valued at about $26,000. Golden State Wealth Management LLC increased its holdings in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. purchased a new position in Labcorp in the first quarter valued at about $27,000. Garde Capital Inc. purchased a new position in Labcorp in the first quarter valued at about $36,000. Finally, Heck Capital Advisors LLC purchased a new position in Labcorp in the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Stock Down 1.7%

Shares of LH traded down $4.39 during midday trading on Friday, hitting $249.24. The company had a trading volume of 1,139,598 shares, compared to its average volume of 647,891. The company's 50 day moving average price is $253.64 and its 200 day moving average price is $243.09. The stock has a market cap of $20.86 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.61 and a beta of 0.82. Labcorp Holdings Inc. has a 52 week low of $205.95 and a 52 week high of $265.72. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The company's revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.68 EPS. On average, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.16%. Labcorp's dividend payout ratio is presently 33.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LH shares. Barclays reissued a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Morgan Stanley raised their price objective on shares of Labcorp from $270.00 to $283.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Evercore ISI raised their price objective on shares of Labcorp from $260.00 to $285.00 and gave the stock an "outperform" rating in a research note on Wednesday. Robert W. Baird raised their target price on shares of Labcorp from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Finally, HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Labcorp has a consensus rating of "Moderate Buy" and a consensus target price of $276.38.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of the transaction, the executive vice president directly owned 30,067 shares of the company's stock, valued at $7,426,549. The trade was a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total transaction of $452,884.00. Following the transaction, the executive vice president directly owned 2,244 shares of the company's stock, valued at $534,879.84. The trade was a 45.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,834 shares of company stock worth $2,928,714. 0.84% of the stock is owned by company insiders.

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.