Thematics Asset Management Sells 7,780 Shares of Labcorp Holdings Inc. $LH

Key Points

• Thematics Asset Management has reduced its holdings in Labcorp Holdings Inc. by 30.8%, now owning 17,443 shares worth $4,060,000.
• Several hedge funds have increased their positions in Labcorp, with Campbell & CO Investment Adviser LLC growing its holdings by an impressive 4,110.2%.
• Analysts have mixed ratings for Labcorp, with the stock receiving a consensus rating of "Moderate Buy" and a target price of $289.58.

Thematics Asset Management decreased its holdings in Labcorp Holdings Inc. (NYSE:LH - Free Report) by 30.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,443 shares of the medical research company's stock after selling 7,780 shares during the period. Thematics Asset Management's holdings in Labcorp were worth $4,060,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of LH. Wedmont Private Capital increased its position in shares of Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company's stock valued at $204,000 after purchasing an additional 44 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its position in shares of Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company's stock valued at $778,000 after purchasing an additional 45 shares during the last quarter. Horizon Investments LLC increased its position in shares of Labcorp by 4.2% during the 1st quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company's stock valued at $278,000 after purchasing an additional 48 shares during the last quarter. Cidel Asset Management Inc. increased its position in shares of Labcorp by 5.5% during the 1st quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company's stock valued at $219,000 after purchasing an additional 49 shares during the last quarter. Finally, Synovus Financial Corp increased its position in shares of Labcorp by 3.7% during the 1st quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company's stock valued at $323,000 after purchasing an additional 49 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

LH stock traded up $2.30 during midday trading on Tuesday, hitting $278.41. The company's stock had a trading volume of 449,090 shares, compared to its average volume of 531,874. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month 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. The firm has a market capitalization of $23.14 billion, a price-to-earnings ratio of 30.73, a price-to-earnings-growth ratio of 1.77 and a beta of 0.78. The company has a 50 day moving average of $261.80 and a two-hundred day moving average of $248.48.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results 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. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the company posted $3.94 EPS. The firm's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, August 28th. Labcorp's dividend payout ratio is presently 31.79%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Morgan Stanley upped their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on Labcorp in a research note on Monday. HSBC downgraded 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. Truist Financial boosted their price objective 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 reiterated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.33.

Insider Activity

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following 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. In the last ninety days, insiders sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is owned by corporate insiders.

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.