Labcorp Holdings Inc. (NYSE:LH) Holdings Lowered by Pacer Advisors Inc.

Pacer Advisors Inc. decreased its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 36.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,303 shares of the medical research company's stock after selling 2,425 shares during the period. Pacer Advisors Inc.'s holdings in Labcorp were worth $1,001,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Labcorp in the first quarter worth $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp in the first quarter worth $28,000. Larson Financial Group LLC increased its position in shares of Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after acquiring an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Labcorp in the first quarter worth $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Piper Sandler reissued a "neutral" rating and issued a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Barclays reissued a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a report on Thursday, July 10th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $285.00.

Insider Buying and Selling at Labcorp

In related news, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total value of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the sale, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,605 shares of company stock valued at $3,784,897. Corporate insiders own 0.84% of the company's stock.

Labcorp Stock Performance

Shares of Labcorp stock traded up $1.26 during trading hours on Friday, reaching $261.34. The company's stock had a trading volume of 652,995 shares, compared to its average volume of 851,657. The company's 50 day simple moving average is $255.68 and its 200 day simple moving average is $245.30. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The stock has a market cap of $21.87 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the firm posted $3.94 EPS. The company's revenue for the quarter was up 9.6% on a year-over-year basis. As a group, analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's payout ratio is currently 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.