QSV Equity Investors LLC Makes New Investment in Labcorp Holdings Inc. $LH

Key Points

• QSV Equity Investors LLC has made a new investment in Labcorp Holdings Inc., purchasing 1,693 shares valued at approximately $394,000 in the first quarter of the year.
• Labcorp's quarterly earnings reported $4.35 EPS, exceeding analysts' expectations of $4.14, with revenues of $3.53 billion for the quarter, an increase of 9.6% year-over-year.
• The company recently announced a quarterly dividend of $0.72 per share, translating to an annualized dividend of $2.88 and a yield of 1.1%.

QSV Equity Investors LLC purchased a new position in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,693 shares of the medical research company's stock, valued at approximately $394,000.

Several other institutional investors have also added to or reduced their stakes in LH. Brooklyn Investment Group lifted its holdings in shares of Labcorp by 71.7% during the first quarter. Brooklyn Investment Group now owns 1,118 shares of the medical research company's stock worth $260,000 after purchasing an additional 467 shares during the period. Versor Investments LP acquired a new stake in shares of Labcorp during the first quarter worth about $725,000. Mill Creek Capital Advisors LLC lifted its holdings in shares of Labcorp by 12.1% during the first quarter. Mill Creek Capital Advisors LLC now owns 1,697 shares of the medical research company's stock worth $395,000 after purchasing an additional 183 shares during the period. Burgundy Asset Management Ltd. lifted its holdings in shares of Labcorp by 7.6% during the first quarter. Burgundy Asset Management Ltd. now owns 95,643 shares of the medical research company's stock worth $22,260,000 after purchasing an additional 6,748 shares during the period. Finally, Corient IA LLC acquired a new stake in shares of Labcorp during the first quarter worth about $303,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Labcorp Stock Down 0.2%

Labcorp stock opened at $270.60 on Monday. The stock has a market capitalization of $22.49 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.73 and a beta of 0.78. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47. The business has a 50 day simple moving average of $259.53 and a 200-day simple moving average of $247.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The business's revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.94 earnings per share. On average, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed 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 dividend payout ratio (DPR) is presently 31.79%.

Insiders Place Their Bets

In related news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the sale, the executive vice president owned 30,067 shares of the company's stock, valued at $7,426,549. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,046 shares of company stock valued at $4,831,192. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their target price on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. HSBC downgraded 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. Evercore ISI lifted their target price on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. UBS Group boosted their price target on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Barclays reissued a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $289.58.

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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