Labcorp Holdings Inc. (NYSE:LH) Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA lowered its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,730 shares of the medical research company's stock after selling 1,910 shares during the quarter. Leeward Investments LLC MA owned about 0.07% of Labcorp worth $12,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. Geode Capital Management LLC boosted its stake in Labcorp by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock valued at $458,334,000 after buying an additional 39,255 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Labcorp by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,957,319 shares of the medical research company's stock valued at $455,370,000 after buying an additional 40,814 shares in the last quarter. FMR LLC raised its holdings in shares of Labcorp by 2.2% in the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock worth $371,688,000 after purchasing an additional 34,429 shares during the period. Select Equity Group L.P. boosted its position in Labcorp by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after buying an additional 959,981 shares during the period. Finally, Amundi increased its stake in shares of Labcorp by 344.9% during the fourth quarter. Amundi now owns 1,123,409 shares of the medical research company's stock valued at $263,161,000 after purchasing an additional 870,903 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LH shares. Robert W. Baird upped their price target on shares of Labcorp from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Redburn Atlantic assumed coverage on shares of Labcorp in a report on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price target for the company. Piper Sandler restated a "neutral" rating and issued a $280.00 target price (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Morgan Stanley increased 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, Barclays restated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and an average price target of $276.08.

Labcorp Stock Up 0.7%

Labcorp stock traded up $1.89 during mid-day trading on Friday, reaching $261.89. The stock had a trading volume of 271,298 shares, compared to its average volume of 640,698. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The company has a market capitalization of $21.92 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.66 and a beta of 0.82. The company has a 50-day moving average price of $252.11 and a two-hundred day moving average price of $242.14. Labcorp Holdings Inc. has a one year low of $198.96 and a one year high of $265.72.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $3.41 billion. During the same period in the prior year, the company earned $3.68 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

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

Insider Transactions at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the sale, the director directly owned 12,166 shares of the company's stock, valued at $3,223,990. This trade represents a 3.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 1,900 shares of Labcorp stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $238.36, for a total value of $452,884.00. Following the completion of the transaction, the executive vice president directly owned 2,244 shares of the company's stock, valued at approximately $534,879.84. This represents a 45.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,834 shares of company stock worth $2,928,714 in the last quarter. 0.84% of the stock is owned by 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.