Scotia Capital Inc. Has $25.37 Million Stock Position in Labcorp Holdings Inc. (NYSE:LH)

Key Points

• Scotia Capital Inc. increased its stake in Labcorp Holdings Inc. by 5.6%, owning 108,986 shares worth approximately $25.37 million after acquiring additional shares in Q1.
• Analyst ratings for Labcorp show a consensus of ten buy ratings, three hold ratings, and one sell rating, with a target price averaging $289.58.
• Labcorp recently announced a quarterly dividend of $0.72 per share, with a yield of 1.1% and a payout ratio of 31.79%.

Scotia Capital Inc. grew its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,986 shares of the medical research company's stock after acquiring an additional 5,777 shares during the quarter. Scotia Capital Inc. owned 0.13% of Labcorp worth $25,365,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LH. Golden State Wealth Management LLC boosted its holdings in shares of Labcorp by 88.1% in the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after buying an additional 52 shares during the last quarter. North Capital Inc. acquired a new stake in shares of Labcorp in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp in the 1st quarter valued at approximately $28,000. Larson Financial Group LLC boosted its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after buying an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Labcorp in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on LH shares. UBS Group increased their price objective on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a report on Friday, July 25th. Morgan Stanley increased their price objective on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Truist Financial increased their price target on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Barclays restated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $289.58.

Insider Transactions at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director owned 6,656 shares in the company, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,605 shares of company stock worth $3,784,897 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Labcorp Stock Up 0.5%

LH stock opened at $261.34 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The stock has a market capitalization of $21.87 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 1.67 and a beta of 0.78. The business's fifty day moving average price is $256.06 and its two-hundred day moving average price is $245.54. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion for 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 company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.94 EPS. On average, equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company 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 dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp's payout ratio is 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.

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