MBB Public Markets I LLC Buys New Stake in Labcorp Holdings Inc. $LH

Key Points

• MBB Public Markets I LLC has acquired a new position in Labcorp Holdings Inc., purchasing 1,345 shares valued at approximately $313,000, as indicated in its Form 13F filing.
• Several other hedge funds have significantly increased their stakes in Labcorp, with Select Equity Group L.P. boosting its ownership by 150.9% and GAMMA Investing LLC by 37,334.2% in recent quarters.
• Labcorp reported $4.35 EPS for the last quarter, exceeding the consensus estimate by $0.21, and has set its FY 2025 guidance for EPS at $16.050-16.500.

MBB Public Markets I LLC acquired a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,345 shares of the medical research company's stock, valued at approximately $313,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Labcorp by 0.7% in the first quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company's stock valued at $2,262,817,000 after acquiring an additional 71,464 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Labcorp by 39.1% in the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock valued at $516,696,000 after acquiring an additional 624,099 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Labcorp by 2.1% in the first 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 acquiring an additional 40,814 shares during the last quarter. Invesco Ltd. lifted its holdings in Labcorp by 28.9% in the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock valued at $330,750,000 after acquiring an additional 318,865 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Labcorp by 24.5% in the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock valued at $295,950,000 after acquiring an additional 250,486 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LH has been the topic of a number of recent analyst reports. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Robert W. Baird set a $311.00 price target on Labcorp in a research note on Monday, August 25th. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research note on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Barclays restated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Stock Down 0.6%

Shares of NYSE LH traded down $1.66 during mid-day trading on Friday, hitting $278.06. The company had a trading volume of 347,155 shares, compared to its average volume of 434,794. The company has a market capitalization of $23.11 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.79 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The business's 50-day simple moving average is $265.85 and its 200 day simple moving average is $251.12.

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 (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period last year, the firm earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock valued at $4,207,192 in the last three months. 0.84% of the stock is currently 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.