Hunter Associates Investment Management LLC Sells 1,095 Shares of Labcorp Holdings Inc. (NYSE:LH)

Hunter Associates Investment Management LLC lowered its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,998 shares of the medical research company's stock after selling 1,095 shares during the quarter. Hunter Associates Investment Management LLC's holdings in Labcorp were worth $4,421,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in LH. Graney & King LLC acquired a new position in shares of Labcorp during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC lifted its holdings in shares of Labcorp by 88.1% during the first 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 last quarter. North Capital Inc. acquired a new position in shares of Labcorp during the first quarter worth approximately $27,000. Financial Gravity Asset Management Inc. acquired a new position in shares of Labcorp during the first quarter worth approximately $31,000. Finally, Garde Capital Inc. acquired a new position in shares of Labcorp in the first quarter valued at $36,000. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

Labcorp stock traded down $5.90 during mid-day trading on Thursday, hitting $253.17. 1,375,796 shares of the company were exchanged, compared to its average volume of 646,170. The company has a quick ratio of 1.60, a current ratio of 1.84 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $253.38 and a 200 day moving average of $242.78. Labcorp Holdings Inc. has a 1-year low of $200.90 and a 1-year high of $265.72. The company has a market capitalization of $21.19 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 1.64 and a beta of 0.82.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.73 by $0.11. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same period in the prior year, the company posted $3.68 earnings per share. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders 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 dividend yield of 1.14%. Labcorp's payout ratio is presently 33.29%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Robert W. Baird upped their target price on Labcorp from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Piper Sandler restated a "neutral" rating and issued a $280.00 target price (up from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Evercore ISI upped their target price on Labcorp from $260.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday. Morgan Stanley upped their target price on Labcorp from $270.00 to $283.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Finally, Wall Street Zen lowered Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.38.

Insider Activity at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total transaction of $452,884.00. Following the sale, the executive vice president owned 2,244 shares in the company, valued at approximately $534,879.84. This represents a 45.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Peter J. Wilkinson sold 829 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the sale, the chief accounting officer owned 2,054 shares in the company, valued at $497,602.04. The trade was a 28.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,834 shares of company stock valued at $2,928,714. 0.84% of the stock is currently owned by company 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.