Tocqueville Asset Management L.P. Buys 1,675 Shares of Labcorp Holdings Inc. (NYSE:LH)

Key Points

• Tocqueville Asset Management L.P. increased its stake in Labcorp Holdings Inc. by 7.6%, owning a total of 23,745 shares valued at approximately $5.53 million after acquiring an additional 1,675 shares in the first quarter.
• Labcorp recently announced a quarterly dividend of $0.72 per share, with a payout ratio of 31.79% and an annualized yield of 1.1%.
• Analysts have projected a consensus rating of "Moderate Buy" for Labcorp shares, with price targets ranging from $289.58 to $306.00.

Tocqueville Asset Management L.P. boosted its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 7.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 23,745 shares of the medical research company's stock after buying an additional 1,675 shares during the period. Tocqueville Asset Management L.P.'s holdings in Labcorp were worth $5,526,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC lifted its stake in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after acquiring an additional 52 shares during the last quarter. North Capital Inc. bought a new position in Labcorp in the 1st quarter valued at $27,000. TruNorth Capital Management LLC purchased a new stake in Labcorp in the first quarter worth $28,000. Larson Financial Group LLC lifted its position in shares of Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Labcorp during the first quarter valued at $31,000. 95.94% of the stock is currently owned by institutional investors.

Insider Activity at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian J. Caveney sold 2,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the sale, the executive vice president directly owned 30,067 shares of the company's stock, valued at $7,426,549. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,046 shares of company stock valued at $4,831,192 over the last three months. Company insiders own 0.84% of the company's stock.

Labcorp Trading Down 0.2%

Shares of NYSE:LH opened at $270.60 on Friday. The company has a market capitalization of $22.49 billion, a PE ratio of 29.87, a P/E/G ratio of 1.73 and a beta of 0.78. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47. The business's fifty day simple moving average is $259.53 and its 200-day simple moving average is $247.12.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.94 earnings per share. As a group, equities research analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp's payout ratio is 31.79%.

Wall Street Analyst Weigh In

Several research analysts recently commented on LH shares. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Evercore ISI raised their target price on shares of 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 lifted their price target on shares of Labcorp from $290.00 to $302.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Morgan Stanley increased their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Finally, UBS Group lifted their target price on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Labcorp has a consensus rating of "Moderate Buy" and an average price target of $289.58.

About Labcorp

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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