Nordea Investment Management AB Grows Holdings in Labcorp Holdings Inc. $LH

Key Points

• Nordea Investment Management AB increased its stake in Labcorp Holdings Inc. by 28.2% during Q2, now owning approximately 1,829,039 shares valued at $476.995 million.
• Labcorp's recent quarterly earnings report showed a net revenue increase of 9.6% year-over-year, exceeding analysts’ expectations with a reported $3.53 billion.
• The company declared a quarterly dividend of $0.72 per share, representing a 1.0% dividend yield, to be paid on December 11th.

Nordea Investment Management AB grew its stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 28.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,829,039 shares of the medical research company's stock after acquiring an additional 401,808 shares during the period. Nordea Investment Management AB owned about 2.19% of Labcorp worth $476,995,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. grew its holdings in Labcorp by 7.9% during the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company's stock worth $802,000 after acquiring an additional 225 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company's stock valued at $38,320,000 after buying an additional 1,816 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Labcorp by 25.2% in the 1st quarter. NewEdge Advisors LLC now owns 8,546 shares of the medical research company's stock valued at $1,989,000 after buying an additional 1,721 shares in the last quarter. Strs Ohio acquired a new position in shares of Labcorp in the 1st quarter valued at $23,639,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Labcorp by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company's stock valued at $528,739,000 after buying an additional 43,509 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the firm's stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,046 shares of company stock worth $4,074,692 over the last ninety days. Company insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

LH has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Evercore ISI upped their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an "outperform" rating in a research report on Friday, October 3rd. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research report on Thursday, July 10th. Truist Financial set a $320.00 price target on shares of Labcorp in a research report on Tuesday. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Labcorp in a research report on Wednesday, October 8th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $292.83.

Labcorp Stock Performance

Shares of LH opened at $283.59 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $289.20. The company has a market cap of $23.57 billion, a price-to-earnings ratio of 31.30, a price-to-earnings-growth ratio of 1.81 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The firm has a fifty day moving average of $276.80 and a 200-day moving average of $257.22.

Labcorp (NYSE:LH - Get Free Report) last issued 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 net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion for the quarter, compared to analysts' expectations of $3.49 billion. During the same period in the previous year, the business earned $3.94 earnings per share. The company's revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's payout ratio is presently 31.79%.

About Labcorp

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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