National Pension Service Grows Stock Holdings in Labcorp Holdings Inc. $LH

Key Points

• The National Pension Service increased its stake in Labcorp Holdings by 2.9%, purchasing an additional 4,491 shares to own a total of 157,731 shares valued at approximately $36.71 million.
• Labcorp's stock has a market cap of $22.49 billion and reported a net margin of 5.66% and a 9.6% year-over-year revenue increase in its latest earnings report.
• Insiders sold a total of 18,046 shares worth approximately $4.83 million in the last three months, with CEO Adam H. Schechter and Director Dwight Gary Gilliland significantly reducing their holdings.

National Pension Service raised its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,731 shares of the medical research company's stock after buying an additional 4,491 shares during the quarter. National Pension Service owned about 0.19% of Labcorp worth $36,710,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC increased 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 worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. purchased a new position in shares of Labcorp during the 1st quarter valued at about $27,000. TruNorth Capital Management LLC purchased a new position in shares of Labcorp during the 1st quarter valued at about $28,000. Larson Financial Group LLC lifted its position in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in Labcorp in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LH. Morgan Stanley lifted their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. HSBC downgraded Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research report on Thursday, July 10th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Hsbc Global Res downgraded Labcorp from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 10th. Finally, Piper Sandler reiterated 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. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Labcorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $289.58.

Insider Activity at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the sale, the director owned 8,666 shares in the company, valued at $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,046 shares of company stock worth $4,831,192 in the last 90 days. Insiders own 0.84% of the company's stock.

Labcorp Trading Up 0.0%

NYSE LH traded up $0.0940 during trading on Thursday, hitting $278.1940. The company had a trading volume of 75,588 shares, compared to its average volume of 719,472. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company's fifty day moving average is $260.53 and its 200-day moving average is $247.66. The company has a market cap of $23.12 billion, a price-to-earnings ratio of 30.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.78. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. Labcorp's quarterly revenue was up 9.6% compared to the same quarter last year. During the same period last year, the business earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, sell-side analysts predict 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 1.0%. Labcorp's payout ratio is 31.79%.

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.