Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Labcorp Holdings Inc. by 0.5%, now holding about 0.28% of the company's shares, valued at approximately $54.9 million.
• Labcorp recently declared a quarterly dividend of $0.72 per share, with a yield of 1.1%, set to be paid on September 11th to stockholders of record on August 28th.
• Analysts have varied ratings for Labcorp, with the average target price set at $289.58, reflecting a consensus of "Moderate Buy" based on recent reports.

Swiss National Bank lowered its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 235,920 shares of the medical research company's stock after selling 1,300 shares during the period. Swiss National Bank owned about 0.28% of Labcorp worth $54,908,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC increased its position 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 purchasing an additional 52 shares in the last quarter. North Capital Inc. acquired a new stake in shares of Labcorp during the first quarter worth about $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp during the first quarter worth about $28,000. Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Labcorp during the first quarter worth about $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Activity

In other news, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president owned 30,067 shares of the company's stock, valued at approximately $7,426,549. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,500 shares of company stock worth $2,266,400. Company insiders own 0.84% of the company's stock.

Labcorp Price Performance

Shares of LH opened at $266.07 on Monday. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $283.47. The stock's 50 day moving average is $257.69 and its two-hundred day moving average is $246.33. The firm has a market capitalization of $22.11 billion, a PE ratio of 29.37, a P/E/G ratio of 1.70 and a beta of 0.78. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the company earned $3.94 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders 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 1.1%. Labcorp's payout ratio is 31.79%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LH shares. Robert W. Baird raised their price target on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Piper Sandler reissued a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Finally, Hsbc Global Res lowered Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Labcorp presently has an average rating of "Moderate Buy" and a consensus target price of $289.58.

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.

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