Labcorp Holdings Inc. (NYSE:LH) Shares Acquired by Tredje AP fonden

Key Points

• Tredje AP fonden significantly increased its holdings in Labcorp Holdings Inc. by 96.8% during the first quarter, now owning 26,266 shares valued at approximately $6.1 million.
• Labcorp's recent quarterly earnings report revealed an EPS of $4.35, surpassing analysts' expectations, with revenues up 9.6% year-over-year.
• The company declared a quarterly dividend of $0.72 per share, translating to an annualized yield of 1.09% for investors.

Tredje AP fonden increased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 96.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,266 shares of the medical research company's stock after purchasing an additional 12,918 shares during the quarter. Tredje AP fonden's holdings in Labcorp were worth $6,113,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Federated Hermes Inc. lifted its stake in Labcorp by 186.8% during the first quarter. Federated Hermes Inc. now owns 826 shares of the medical research company's stock worth $192,000 after purchasing an additional 538 shares during the last quarter. Meeder Advisory Services Inc. lifted its stake in Labcorp by 23.2% during the first quarter. Meeder Advisory Services Inc. now owns 1,124 shares of the medical research company's stock worth $262,000 after purchasing an additional 212 shares during the last quarter. Norden Group LLC increased its position in Labcorp by 9.8% during the first quarter. Norden Group LLC now owns 3,462 shares of the medical research company's stock worth $806,000 after buying an additional 308 shares during the period. Mackenzie Financial Corp increased its position in Labcorp by 188.4% during the first quarter. Mackenzie Financial Corp now owns 32,846 shares of the medical research company's stock worth $7,645,000 after buying an additional 21,456 shares during the period. Finally, Inspire Advisors LLC increased its position in Labcorp by 11.2% during the first quarter. Inspire Advisors LLC now owns 3,529 shares of the medical research company's stock worth $821,000 after buying an additional 355 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Wall Street Analyst Weigh In

LH has been the topic of several research analyst reports. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Truist Financial lifted their price target on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lifted their price target on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Piper Sandler reaffirmed a "neutral" rating and set a $280.00 price target (up previously from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Finally, Robert W. Baird lifted their price target on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $285.00.

Labcorp Price Performance

Shares of Labcorp stock traded up $1.26 during trading on Friday, reaching $261.34. The company's stock had a trading volume of 652,995 shares, compared to its average volume of 851,657. 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 Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47. The company has a market capitalization of $21.87 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78. The business has a 50 day moving average price of $256.06 and a 200-day moving average price of $245.49.

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, 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 firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the business earned $3.94 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp's dividend payout ratio (DPR) is 31.79%.

Insider Transactions at Labcorp

In other news, Director Dwight Gary Gilliland sold 2,000 shares of the company's stock in a transaction 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 sale, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the company's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director owned 8,666 shares in the company, valued at $2,426,480. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,605 shares of company stock worth $3,784,897 over the last ninety days. 0.84% of the stock is currently owned by company 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.