Prudential PLC Increases Stock Position in Labcorp Holdings Inc. $LH

Key Points

• Prudential PLC increased its ownership stake in Labcorp Holdings Inc. by 14.4%, acquiring an additional 1,437 shares to total 11,448 shares, which were valued at $2,664,000 at the end of the reporting period.
• Company insiders sold 14,143 shares of Labcorp stock in the last three months, resulting in a 5.70% decrease in CEO Adam H. Schechter's ownership.
• Labcorp announced a quarterly dividend of $0.72 per share, reflecting an annualized dividend of $2.88 and a yield of 1.1%.

Prudential PLC lifted its position in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,448 shares of the medical research company's stock after acquiring an additional 1,437 shares during the quarter. Prudential PLC's holdings in Labcorp were worth $2,664,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC purchased a new position in shares of Labcorp during the 4th quarter valued at $991,000. Raymond James Financial Inc. bought a new stake in Labcorp in the 4th quarter worth about $33,779,000. Townsquare Capital LLC lifted its position in Labcorp by 16.1% during the fourth quarter. Townsquare Capital LLC now owns 4,396 shares of the medical research company's stock valued at $1,008,000 after purchasing an additional 611 shares during the period. SageView Advisory Group LLC purchased a new stake in Labcorp during the fourth quarter valued at $224,000. Finally, Mariner LLC raised its holdings in Labcorp by 25.8% in the 4th quarter. Mariner LLC now owns 13,215 shares of the medical research company's stock worth $3,030,000 after purchasing an additional 2,709 shares during the period. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Performance

Shares of LH traded up $5.40 during mid-day trading on Tuesday, hitting $275.89. The stock had a trading volume of 191,202 shares, compared to its average volume of 719,514. The company's fifty day simple moving average is $259.84 and its two-hundred day simple moving average is $247.24. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The company has a market cap of $22.93 billion, a PE ratio of 30.45, a PEG ratio of 1.73 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The firm 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 revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities analysts expect 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 will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's payout ratio is presently 31.79%.

Analyst Upgrades and Downgrades

LH has been the subject of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Evercore ISI boosted their price target on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Truist Financial boosted their price objective on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price for the company. in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $289.58.

Insiders Place Their Bets

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares in the company, valued at $2,426,480. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,046 shares of company stock valued at $4,831,192 over the last 90 days. Corporate insiders own 0.84% of the company's stock.

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.