Hunter Perkins Capital Management LLC Has $26.40 Million Holdings in Labcorp Holdings Inc. (NYSE:LH)

Hunter Perkins Capital Management LLC lessened its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,439 shares of the medical research company's stock after selling 5,551 shares during the quarter. Labcorp makes up approximately 6.1% of Hunter Perkins Capital Management LLC's holdings, making the stock its 2nd largest holding. Hunter Perkins Capital Management LLC owned 0.14% of Labcorp worth $26,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Graney & King LLC acquired a new position in Labcorp in the fourth quarter valued at $26,000. Golden State Wealth Management LLC grew its holdings in Labcorp by 88.1% in the 1st 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 during the period. Garde Capital Inc. acquired a new position in shares of Labcorp during the 1st quarter valued at about $36,000. Heck Capital Advisors LLC purchased a new position in shares of Labcorp during the 4th quarter worth about $44,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Labcorp in the fourth quarter worth approximately $52,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Stock Up 0.7%

NYSE:LH traded up $1.80 during trading hours on Monday, hitting $262.39. The stock had a trading volume of 408,281 shares, compared to its average volume of 639,130. The company has a market cap of $21.96 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81. The business has a 50 day simple moving average of $248.19 and a two-hundred day simple moving average of $241.20. Labcorp Holdings Inc. has a 1-year low of $198.96 and a 1-year high of $264.03. The company has a current ratio of 1.84, a quick ratio of 1.60 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings results 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. The firm 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.68 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Thursday, May 29th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.10%. Labcorp's dividend payout ratio (DPR) is 33.29%.

Analysts Set New Price Targets

LH has been the subject of several research analyst reports. Citigroup raised shares of Labcorp from a "neutral" rating to a "buy" rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Morgan Stanley upped their price objective on Labcorp from $270.00 to $283.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Robert W. Baird increased their target price on Labcorp from $253.00 to $267.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Wall Street Zen downgraded Labcorp from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Finally, Barclays restated a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus target price of $276.08.

Insider Activity at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director now directly owns 12,666 shares of the company's stock, valued at $3,293,160. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Peter J. Wilkinson sold 829 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total transaction of $200,833.54. Following the completion of the sale, the chief accounting officer now owns 2,054 shares in the company, valued at approximately $497,602.04. This trade represents a 28.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,334 shares of company stock valued at $2,796,214. Insiders own 0.84% of the company's stock.

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.