Universal Beteiligungs und Servicegesellschaft mbH Raises Stock Position in Labcorp Holdings Inc. (NYSE:LH)

Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 122,441 shares of the medical research company's stock after acquiring an additional 9,371 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned 0.15% of Labcorp worth $28,497,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LPL Financial LLC grew its stake in shares of Labcorp by 63.8% during the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock worth $14,343,000 after purchasing an additional 24,357 shares during the period. Freestone Grove Partners LP acquired a new position in Labcorp during the fourth quarter worth about $48,693,000. Brighton Jones LLC purchased a new position in Labcorp in the fourth quarter valued at about $991,000. Intrust Bank NA lifted its position in shares of Labcorp by 4.7% during the 4th quarter. Intrust Bank NA now owns 3,177 shares of the medical research company's stock valued at $729,000 after acquiring an additional 144 shares during the period. Finally, Southeast Asset Advisors LLC purchased a new stake in shares of Labcorp during the 4th quarter worth approximately $1,909,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on LH. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. Truist Financial lifted their price target on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday. UBS Group boosted their price objective on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday. Morgan Stanley raised their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $280.00 price target (up previously from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Labcorp has a consensus rating of "Moderate Buy" and a consensus price target of $285.00.

Labcorp Trading Down 1.2%

NYSE LH traded down $3.23 during mid-day trading on Friday, reaching $264.46. 1,152,351 shares of the stock were exchanged, compared to its average volume of 840,803. The stock has a market capitalization of $22.14 billion, a PE ratio of 29.19, a PEG ratio of 1.68 and a beta of 0.82. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.60 and a current ratio of 1.50. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The business's fifty day simple moving average is $254.43 and its 200 day simple moving average is $244.60.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations 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 firm earned $3.94 earnings per share. On average, research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The business 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 $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.09%. Labcorp's dividend payout ratio is presently 33.29%.

Insider Transactions at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total transaction of $132,500.00. Following the transaction, the director owned 12,166 shares of the company's stock, valued at $3,223,990. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 6,105 shares of Labcorp stock in a transaction on Monday, May 12th. The shares were sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the completion of the transaction, the chief executive officer owned 98,962 shares in the company, valued at approximately $24,614,818.26. This trade represents a 5.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,834 shares of company stock valued at $2,928,714 in the last quarter. Insiders own 0.84% of the company's stock.

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.