Wilmington Savings Fund Society FSB Trims Holdings in Labcorp Holdings Inc. $LH

Key Points

• Wilmington Savings Fund Society FSB reduced its stake in Labcorp by 5.0%, selling 1,268 shares during the second quarter, leaving it with 24,084 shares valued at approximately $6.32 million.
• Labcorp announced a quarterly dividend of $0.72 per share, with an annual yield of 1.0%, set to be paid on December 11th to investors of record.
• Analysts have given Labcorp an average rating of "Moderate Buy" with a target price of $292.83, while ongoing institutional ownership for the stock stands at 95.94%.

Wilmington Savings Fund Society FSB cut its position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,084 shares of the medical research company's stock after selling 1,268 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Labcorp were worth $6,322,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LH. Brighton Jones LLC bought a new position in Labcorp during the fourth quarter worth $991,000. GAMMA Investing LLC increased its holdings in shares of Labcorp by 60.8% during the first quarter. GAMMA Investing LLC now owns 3,479 shares of the medical research company's stock valued at $810,000 after purchasing an additional 1,316 shares during the period. Wealth Enhancement Advisory Services LLC increased 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 valued at $8,421,000 after purchasing an additional 16,574 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Labcorp by 40.2% during the first quarter. Ritholtz Wealth Management now owns 1,718 shares of the medical research company's stock valued at $400,000 after purchasing an additional 493 shares during the period. Finally, Grove Bank & Trust grew its holdings in Labcorp by 1.4% during the first quarter. Grove Bank & Trust now owns 3,935 shares of the medical research company's stock worth $916,000 after acquiring an additional 53 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Performance

LH opened at $280.02 on Wednesday. The stock has a market cap of $23.27 billion, a PE ratio of 30.91, a P/E/G ratio of 1.77 and a beta of 0.89. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $289.20. The stock's 50 day simple moving average is $275.89 and its 200-day simple moving average is $256.69.

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 the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's payout ratio is currently 31.79%.

Insiders Place Their Bets

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company's stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the transaction, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock worth $4,074,692 in the last three months. Company insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of research analyst reports. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Morgan Stanley lifted their price target on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. UBS Group raised their price objective on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Barclays raised their price objective on Labcorp from $275.00 to $290.00 and gave the company an "equal weight" rating in a research note on Thursday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $292.83.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

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