Sequoia Financial Advisors LLC Acquires 1,816 Shares of Labcorp Holdings Inc. $LH

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Labcorp Holdings Inc. by 1.3% during Q2, acquiring 1,816 additional shares, which brings their total ownership to 145,977 shares worth approximately $38.32 million.
• Labcorp reported a quarterly EPS of $4.35, exceeding analyst expectations, with revenue rising 9.6% year-over-year to $3.53 billion.
• The company announced a quarterly dividend of $0.72 per share, with a dividend yield of 1.0%, set to be paid on December 11th.

Sequoia Financial Advisors LLC boosted its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 145,977 shares of the medical research company's stock after acquiring an additional 1,816 shares during the quarter. Sequoia Financial Advisors LLC owned 0.18% of Labcorp worth $38,320,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB boosted its stake in Labcorp by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock valued at $114,000 after acquiring an additional 40 shares during the last quarter. Highland Capital Management LLC boosted its stake in Labcorp by 0.3% in the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company's stock valued at $4,022,000 after acquiring an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its stake in Labcorp by 1.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock valued at $778,000 after acquiring an additional 45 shares during the last quarter. Tempus Wealth Planning LLC boosted its stake in Labcorp by 2.0% in the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company's stock valued at $613,000 after acquiring an additional 45 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after acquiring an additional 48 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Trading Up 0.1%

Shares of NYSE:LH opened at $277.96 on Monday. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $289.20. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $275.30 and its 200 day simple moving average is $256.20. The firm has a market cap of $23.10 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 1.78 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings data 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the business posted $3.94 earnings per share. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, research analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued 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 is Wednesday, November 26th. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director owned 8,666 shares in the company, valued at $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a report on Thursday, July 10th. Truist Financial increased their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 target price on shares of Labcorp in a report on Monday, August 25th. Finally, Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $292.00.

Labcorp Company 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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