United Services Automobile Association Buys New Shares in Labcorp Holdings Inc. $LH

Key Points

• United Services Automobile Association purchased a new position in Labcorp Holdings Inc. worth approximately $369,000, acquiring 1,604 shares of the company.
• Labcorp recently reported Q2 earnings that beat expectations, with $4.35 EPS on revenues of $3.53 billion, reflecting a 9.6% year-over-year increase.
• Several analysts have given Labcorp a "buy" rating, raising price targets, with an average rating of "Moderate Buy" and an average price target of $290.33.

United Services Automobile Association acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,604 shares of the medical research company's stock, valued at approximately $369,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Golden State Wealth Management LLC lifted its stake in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after buying an additional 52 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Labcorp during the first quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp during the first quarter worth $28,000. Larson Financial Group LLC grew its holdings in 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 acquiring an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new stake in Labcorp in the first quarter valued at $31,000. 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 recent analyst reports. Morgan Stanley increased their target price on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Truist Financial raised their price objective on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Evercore ISI raised their price objective on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, HSBC lowered 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. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued 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 price target of $290.33.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,643 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock worth $4,207,192 in the last ninety days. Company insiders own 0.84% of the company's stock.

Labcorp Stock Performance

Shares of NYSE LH traded down $0.70 during mid-day trading on Tuesday, hitting $274.71. The company had a trading volume of 124,437 shares, compared to its average volume of 689,859. The stock has a market cap of $22.83 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.78 and a beta of 0.85. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The firm's 50 day simple moving average is $266.21 and its two-hundred day simple moving average is $251.30.

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, topping the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business's revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, equities research analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio (DPR) is presently 31.79%.

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.