Wellington Management Group LLP Has $61.73 Million Stock Position in Labcorp Holdings Inc. $LH

Key Points

• Wellington Management Group LLP has increased its stake in Labcorp Holdings Inc. by 0.6% in Q1, now owning 265,245 shares valued at approximately $61.73 million.
• Labcorp reported a quarterly earnings per share of $4.35, exceeding analysts’ expectations, with revenue of $3.53 billion for the quarter.
• The firm announced a quarterly dividend of $0.72 per share, representing an annualized dividend yield of 1.0%, with a payout ratio of 31.79%.

Wellington Management Group LLP increased its holdings in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,245 shares of the medical research company's stock after purchasing an additional 1,711 shares during the period. Wellington Management Group LLP owned approximately 0.32% of Labcorp worth $61,733,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Freestone Grove Partners LP acquired a new stake in Labcorp during the 4th quarter worth approximately $48,693,000. Brighton Jones LLC bought a new stake in shares of Labcorp during the fourth quarter worth $991,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Labcorp by 84.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 36,182 shares of the medical research company's stock worth $8,421,000 after acquiring an additional 16,574 shares during the period. Wahed Invest LLC lifted its position in Labcorp by 5.3% in the 4th quarter. Wahed Invest LLC now owns 2,147 shares of the medical research company's stock valued at $492,000 after acquiring an additional 108 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in Labcorp by 1.8% in the 1st quarter. Wealthfront Advisers LLC now owns 6,565 shares of the medical research company's stock valued at $1,528,000 after acquiring an additional 114 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LH has been the subject of a number of research reports. Evercore ISI increased their target price on Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research report on Wednesday, June 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a research report on Thursday, July 10th. Truist Financial upped 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. Finally, Hsbc Global Res downgraded shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Labcorp has a consensus rating of "Moderate Buy" and an average price target of $290.33.

Labcorp Stock Up 0.8%

Shares of NYSE LH traded up $2.30 during trading hours on Tuesday, hitting $278.41. The company had a trading volume of 449,090 shares, compared to its average volume of 715,860. The stock has a market capitalization of $23.14 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The firm's 50 day moving average is $261.42 and its 200-day moving average is $248.27. 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 quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same quarter last year, the company posted $3.94 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders 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 1.0%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp's payout ratio is 31.79%.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,046 shares of company stock valued at $4,831,192. Company 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.