Teewinot Capital Advisers L.L.C. Invests $709,000 in Labcorp Holdings Inc. $LH

Key Points

• Teewinot Capital Advisers L.L.C. has made a new investment in Labcorp Holdings Inc., acquiring 3,045 shares valued at approximately $709,000.
• Major institutions, including Wedmont Private Capital and Dorsey & Whitney Trust CO LLC, have also increased their stakes in Labcorp, with institutional investors owning 95.94% of the stock.
• Labcorp recently reported better-than-expected earnings of $4.35 per share, surpassing the consensus estimate and indicating a year-over-year revenue increase of 9.6%.

Teewinot Capital Advisers L.L.C. bought a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 3,045 shares of the medical research company's stock, valued at approximately $709,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Select Equity Group L.P. raised 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 purchasing an additional 959,981 shares during the period. GAMMA Investing LLC increased its stake in shares of Labcorp by 37,334.2% in the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock worth $188,450,000 after purchasing an additional 807,539 shares in the last quarter. Invesco Ltd. boosted its stake in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after purchasing an additional 318,865 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Labcorp by 55.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after acquiring an additional 280,011 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Labcorp by 24.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company's stock valued at $295,950,000 after buying an additional 250,486 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the company's stock in a transaction dated Thursday, July 24th. The stock was 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 of the company's stock, valued at $2,426,480. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,546 shares of company stock worth $4,207,192. Corporate insiders own 0.84% of the company's stock.

Labcorp Trading Down 1.8%

LH traded down $5.09 during trading on Wednesday, hitting $273.02. 462,711 shares of the stock were exchanged, compared to its average volume of 698,568. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $283.47. The firm has a market cap of $22.69 billion, a price-to-earnings ratio of 30.13, a P/E/G ratio of 1.77 and a beta of 0.85. The firm has a 50 day simple moving average of $265.17 and a 200 day simple moving average of $250.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period last year, the business posted $3.94 EPS. The business's revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current 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 paid a $0.72 dividend. The ex-dividend date is Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp's dividend payout ratio is presently 31.79%.

Analyst Ratings Changes

Several research firms recently weighed in on LH. Barclays restated a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Evercore ISI raised their target price on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. Robert W. Baird set a $311.00 price target on Labcorp in a research report on Monday, August 25th. Finally, Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $290.33.

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.