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

Hunter Associates Investment Management LLC cut its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors have also added to or reduced their stakes in LH. Norges Bank bought a new position in shares of Labcorp in the 4th quarter worth about $239,811,000. Select Equity Group L.P. increased its stake in shares of Labcorp by 150.9% in the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after acquiring an additional 959,981 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Labcorp by 37,334.2% in the 1st quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock worth $188,450,000 after acquiring an additional 807,539 shares in the last quarter. Madison Investment Advisors LLC bought a new position in shares of Labcorp in the 4th quarter worth about $123,415,000. Finally, Alliancebernstein L.P. increased its stake in shares of Labcorp by 59.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock worth $234,160,000 after acquiring an additional 380,624 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Performance

Shares of NYSE LH traded down $5.00 during trading on Friday, reaching $248.63. 458,661 shares of the company traded hands, compared to its average volume of 645,611. The firm has a 50 day simple moving average of $253.62 and a 200-day simple moving average of $242.95. 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 stock has a market capitalization of $20.81 billion, a PE ratio of 28.74, a P/E/G ratio of 1.64 and a beta of 0.82. Labcorp Holdings Inc. has a 52-week low of $200.90 and a 52-week high of $265.72.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.73 by $0.11. The company had revenue of $3.35 billion for 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 firm's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the firm posted $3.68 earnings per share. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

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 issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.16%. Labcorp's payout ratio is 33.29%.

Analysts Set New Price Targets

Several brokerages recently commented on LH. Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday. Piper Sandler reissued a "neutral" rating and set a $280.00 price objective (up from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Redburn Atlantic began coverage on shares of Labcorp in a research report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Labcorp from $253.00 to $267.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Finally, Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $276.38.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $238.36, for a total value of $452,884.00. Following the transaction, the executive vice president owned 2,244 shares of the company's stock, valued at approximately $534,879.84. This trade represents a 45.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Brian J. Caveney sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was 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 in the company, valued at approximately $7,426,549. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,834 shares of company stock valued at $2,928,714 in the last 90 days. 0.84% of the stock is owned by insiders.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.