Scientech Research LLC Buys New Position in Labcorp Holdings Inc. $LH

Key Points

• Scientech Research LLC acquired 3,128 shares of Labcorp Holdings Inc., representing a stake worth approximately $728,000.
• Several institutional investors, including Vanguard Group Inc. and Invesco Ltd., have increased their holdings in Labcorp during the first quarter.
• Labcorp's earnings report showed a stronger than expected performance with $4.35 earnings per share, exceeding analysts' consensus estimates of $4.14.

Scientech Research LLC purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,128 shares of the medical research company's stock, valued at approximately $728,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Select Equity Group L.P. increased its position in shares of Labcorp by 150.9% during the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after buying an additional 959,981 shares during the period. GAMMA Investing LLC increased its position in shares of Labcorp by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock worth $188,450,000 after buying an additional 807,539 shares during the period. Invesco Ltd. increased its position in shares of Labcorp by 28.9% during the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after buying an additional 318,865 shares during the period. Lord Abbett & CO. LLC increased its position in shares of Labcorp by 55.9% during the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after buying an additional 280,011 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Labcorp by 24.5% during the first quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock worth $295,950,000 after buying an additional 250,486 shares during the period. Institutional investors own 95.94% of the company's stock.

Labcorp Stock Down 0.6%

Shares of Labcorp stock traded down $1.66 during trading on Friday, hitting $278.06. The company's stock had a trading volume of 347,155 shares, compared to its average volume of 434,794. 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 company has a fifty day simple moving average of $265.85 and a two-hundred day simple moving average of $251.12. The company has a market capitalization of $23.11 billion, a PE ratio of 30.69, a P/E/G ratio of 1.79 and a beta of 0.85. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for 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 firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

LH has been the topic of several research reports. Truist Financial lifted their price objective on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley boosted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Labcorp has a consensus rating of "Moderate Buy" and an average target price of $290.33.

Insider Activity at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction dated 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 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 SEC, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock valued at $4,207,192 over the last ninety days. Company insiders own 0.84% of the company's stock.

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.