WS Management Lllp Makes New Investment 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 stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 100,000 shares of the medical research company's stock, valued at approximately $23,274,000. Labcorp accounts for about 2.6% of WS Management Lllp's investment portfolio, making the stock its 4th biggest position. WS Management Lllp owned approximately 0.12% of Labcorp at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Freestone Grove Partners LP purchased a new stake in shares of Labcorp during the fourth quarter valued at $48,693,000. Brighton Jones LLC purchased a new stake in Labcorp in the fourth quarter worth about $991,000. Wealth Enhancement Advisory Services LLC lifted its stake in Labcorp by 84.5% in 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 stake in Labcorp by 5.3% in the fourth quarter. Wahed Invest LLC now owns 2,147 shares of the medical research company's stock worth $492,000 after acquiring an additional 108 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in Labcorp by 1.8% in the first quarter. Wealthfront Advisers LLC now owns 6,565 shares of the medical research company's stock worth $1,528,000 after acquiring an additional 114 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the 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 owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,046 shares of company stock valued at $4,831,192. 0.84% of the stock is owned by company insiders.

Labcorp Stock Up 1.0%

Shares of LH traded up $2.78 during mid-day trading on Friday, hitting $278.07. 379,936 shares of the company traded hands, compared to its average volume of 496,927. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $283.47. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $23.11 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 1.78 and a beta of 0.78. The business has a 50 day moving average of $262.75 and a 200 day moving average of $249.19.

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, beating 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 firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the prior 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. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Thursday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio is 31.79%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LH shares. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Hsbc Global Res lowered shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Piper Sandler reiterated a "neutral" rating and issued a $280.00 target price (up from $260.00) on shares of Labcorp in a report on Tuesday, May 6th. Finally, Truist Financial boosted their target price on shares of Labcorp from $290.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $290.33.

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.