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Navera Investment Management Ltd. Lowers Position in Labcorp Holdings Inc. $LH

Labcorp logo with Medical background

Key Points

  • Navera Investment Management Ltd. reduced its stake in Labcorp Holdings by 15.6% to approximately $280 million, making it the firm's 10th largest holding.
  • Labcorp recently received price target increases from several analysts, with Morgan Stanley raising it to $306 and giving the stock an "overweight" rating.
  • Insider trading activity shows notable sales, including Director Kerrii B. Anderson, who sold 3,500 shares for nearly $1 million, representing a significant decrease in ownership.
  • Five stocks we like better than Labcorp.

Navera Investment Management Ltd. decreased its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 15.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,068,968 shares of the medical research company's stock after selling 197,720 shares during the period. Labcorp comprises 5.1% of Navera Investment Management Ltd.'s portfolio, making the stock its 10th largest holding. Navera Investment Management Ltd. owned about 1.28% of Labcorp worth $280,472,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. REAP Financial Group LLC lifted its position in Labcorp by 193.0% during the second quarter. REAP Financial Group LLC now owns 167 shares of the medical research company's stock valued at $44,000 after purchasing an additional 110 shares during the period. Belpointe Asset Management LLC raised its position in Labcorp by 6.3% in the second quarter. Belpointe Asset Management LLC now owns 1,833 shares of the medical research company's stock worth $481,000 after acquiring an additional 108 shares during the period. DAVENPORT & Co LLC raised its position in Labcorp by 4.9% in the second quarter. DAVENPORT & Co LLC now owns 3,901 shares of the medical research company's stock worth $1,024,000 after acquiring an additional 181 shares during the period. Marietta Wealth Management LLC raised its position in Labcorp by 2.9% in the second quarter. Marietta Wealth Management LLC now owns 29,374 shares of the medical research company's stock worth $7,711,000 after acquiring an additional 819 shares during the period. Finally, Highland Capital Management LLC raised its position in Labcorp by 0.3% in the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company's stock worth $4,022,000 after acquiring an additional 40 shares during the period. Institutional investors own 95.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LH. Morgan Stanley increased their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Evercore ISI increased their price target on shares of Labcorp from $300.00 to $305.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group increased their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a research report on Saturday, September 27th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.00.

Read Our Latest Research Report on LH

Insider Activity at Labcorp

In related news, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 8,666 shares of the company's stock, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,046 shares of company stock valued at $4,074,692. Insiders own 0.84% of the company's stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $279.40 on Wednesday. The firm has a fifty day moving average price of $274.34 and a 200-day moving average price of $255.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market cap of $23.22 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 1.76 and a beta of 0.89. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $289.20.

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, topping analysts' consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

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

Labcorp Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Labcorp (NYSE:LH)

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