2,752 Shares in Labcorp Holdings Inc. $LH Purchased by Strathmore Capital Advisors Inc.

Key Points

• Strathmore Capital Advisors Inc. has acquired 2,752 shares of Labcorp Holdings Inc., valued at approximately $713,000, marking a new investment in the medical research company.
• Recent stock analysis shows that Truist Financial and UBS Group have raised their price targets for Labcorp to $310.00 and $305.00 respectively, indicating strong investor interest.
• The company reported a quarterly earnings per share of $4.35, exceeding analyst expectations, with a revenue increase of 9.6% year-over-year, highlighting robust financial performance.

Strathmore Capital Advisors Inc. purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,752 shares of the medical research company's stock, valued at approximately $713,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC bought a new stake in Labcorp during the 4th quarter worth about $991,000. Nomura Holdings Inc. bought a new stake in shares of Labcorp in the 4th quarter valued at about $632,000. Quantinno Capital Management LP grew its stake in Labcorp by 114.5% in the 4th quarter. Quantinno Capital Management LP now owns 6,850 shares of the medical research company's stock valued at $1,571,000 after buying an additional 3,656 shares during the last quarter. ProShare Advisors LLC grew its stake in Labcorp by 11.8% in the 4th quarter. ProShare Advisors LLC now owns 12,672 shares of the medical research company's stock valued at $2,906,000 after buying an additional 1,342 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its stake in Labcorp by 11.4% in the 4th quarter. Rafferty Asset Management LLC now owns 9,490 shares of the medical research company's stock valued at $2,176,000 after buying an additional 974 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the 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 transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,546 shares of company stock worth $4,207,192 in the last 90 days. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. 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 research report on Friday, July 25th. HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a research note on Thursday, July 10th. Robert W. Baird set a $311.00 price target on shares of Labcorp in a research note on Monday, August 25th. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Nine analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $290.33.

Labcorp Stock Down 0.0%

NYSE:LH traded down $0.08 during mid-day trading on Friday, reaching $277.07. The company's stock had a trading volume of 1,064,764 shares, compared to its average volume of 390,173. The firm has a market capitalization of $23.02 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. The stock has a fifty day moving average of $267.90 and a 200-day moving average of $251.91. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47. 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 (NYSE:LH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. The business 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%. The company's quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities research analysts forecast 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 was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were issued a dividend of $0.72 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend 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.