WS Management Lllp Purchases New Position in Labcorp Holdings Inc. $LH

Key Points

• WS Management Lllp has invested approximately $23.27 million in Labcorp Holdings Inc., acquiring 100,000 shares, which represents about 2.6% of its investment portfolio.
• Labcorp's CEO, Adam H. Schechter, recently sold 5,643 shares for over $1.5 million, reducing his ownership in the company by 5.70%.
• The company declared a quarterly dividend of $0.72 per share, to be paid on September 11th, resulting in an annualized yield of 1.0%.

WS Management Lllp bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 100,000 shares of the medical research company's stock, valued at approximately $23,274,000. Labcorp makes up about 2.6% of WS Management Lllp's investment portfolio, making the stock its 4th biggest position. WS Management Lllp owned 0.12% of Labcorp as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Select Equity Group L.P. lifted its stake in Labcorp by 150.9% in the fourth quarter. Select Equity Group L.P. now owns 1,595,957 shares of the medical research company's stock valued at $365,985,000 after buying an additional 959,981 shares during the period. GAMMA Investing LLC boosted its position 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 worth $188,450,000 after purchasing an additional 807,539 shares during the last quarter. Invesco Ltd. grew its stake in shares of Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company's stock worth $330,750,000 after acquiring an additional 318,865 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company's stock worth $181,819,000 after acquiring an additional 280,011 shares during the period. Finally, Freestone Grove Partners LP purchased a new stake in Labcorp during the 4th quarter worth about $48,693,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Labcorp

In other news, EVP Brian J. Caveney sold 2,000 shares of Labcorp stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $247.00, for a total transaction of $494,000.00. Following the sale, the executive vice president owned 30,067 shares of the company's stock, valued at approximately $7,426,549. The trade was a 6.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,046 shares of company stock worth $4,831,192. 0.84% of the stock is owned by company insiders.

Labcorp Trading Up 1.0%

LH stock traded up $2.78 during midday trading on Friday, reaching $278.07. 379,936 shares of the company traded hands, compared to its average volume of 708,959. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The business has a 50 day moving average of $262.75 and a 200-day moving average of $249.13. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47. The firm has a market capitalization of $23.11 billion, a price-to-earnings ratio of 30.69, a P/E/G ratio of 1.79 and a beta of 0.78.

Labcorp (NYSE:LH - Get Free Report) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (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 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 for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders 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 dividend yield of 1.0%. The ex-dividend date is Thursday, August 28th. Labcorp's payout ratio is currently 31.79%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. UBS Group raised their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lifted their price objective on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price objective on the stock. in a research report on Thursday, July 10th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Truist Financial lifted their price objective on Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.33.

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.