Versor Investments LP Purchases Shares of 3,114 Labcorp Holdings Inc. $LH

Key Points

• Versor Investments LP has acquired a new position in Labcorp Holdings Inc., purchasing 3,114 shares valued at approximately $725,000 during the first quarter of the year.
• Labcorp has received mixed ratings from analysts, with one firm downgrading its rating while others boosted their price targets, resulting in an average price target of $289.58 and an average rating of "Moderate Buy."
• Labcorp recently announced a quarterly dividend of $0.72 per share, reflecting a 1.1% dividend yield, payable on September 11th to shareholders of record on August 28th.

Versor Investments LP purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,114 shares of the medical research company's stock, valued at approximately $725,000.

Several other institutional investors also recently modified their holdings of LH. Select Equity Group L.P. grew its position in shares of Labcorp by 150.9% during the 4th quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock worth $365,985,000 after buying an additional 959,981 shares during the period. GAMMA Investing LLC increased its stake in Labcorp by 37,334.2% in the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company's stock valued at $188,450,000 after purchasing an additional 807,539 shares in the last quarter. Invesco Ltd. increased its stake in Labcorp by 28.9% in the first quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock valued at $330,750,000 after purchasing an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Labcorp by 55.9% in the first quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock valued at $181,819,000 after purchasing an additional 280,011 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in Labcorp in the fourth quarter valued at approximately $48,693,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Robert W. Baird upped their target price 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. Evercore ISI upped their target price on shares of Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Morgan Stanley upped their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Finally, HSBC downgraded shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price 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 given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $289.58.

Labcorp Stock Down 0.6%

LH traded down $1.5910 during trading hours on Thursday, hitting $276.5090. 384,680 shares of the company's stock were exchanged, compared to its average volume of 687,035. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The stock's 50-day moving average is $260.83 and its two-hundred day moving average is $247.86. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.78 and a beta of 0.78. 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 (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter in the prior year, the company posted $3.94 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's payout ratio is 31.79%.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were 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 owned 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the sale, the chief executive officer owned 93,319 shares of the company's stock, valued at approximately $24,895,642.82. This represents a 5.70% 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 in the last three months. 0.84% of the stock is currently owned by insiders.

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.