Y Intercept Hong Kong Ltd Purchases Shares of 3,021 Labcorp Holdings Inc. (NYSE:LH)

Y Intercept Hong Kong Ltd purchased a new stake in Labcorp Holdings Inc. (NYSE:LH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,021 shares of the medical research company's stock, valued at approximately $703,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC increased its position in shares of Labcorp by 63.8% during the fourth quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock worth $14,343,000 after buying an additional 24,357 shares during the period. Freestone Grove Partners LP acquired a new stake in shares of Labcorp during the fourth quarter worth $48,693,000. Brighton Jones LLC acquired a new stake in shares of Labcorp during the fourth quarter worth $991,000. Intrust Bank NA increased its position in shares of Labcorp by 4.7% during the fourth quarter. Intrust Bank NA now owns 3,177 shares of the medical research company's stock worth $729,000 after buying an additional 144 shares during the period. Finally, Southeast Asset Advisors LLC acquired a new stake in shares of Labcorp during the fourth quarter worth $1,909,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Trading Down 1.2%

NYSE:LH opened at $264.46 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.60 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $22.14 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 1.68 and a beta of 0.82. The firm has a fifty day simple moving average of $254.43 and a two-hundred day simple moving average of $244.60. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $283.47.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share 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 for the quarter, compared to analyst estimates of $3.49 billion. During the same period last year, the firm earned $3.94 earnings per share. The business's quarterly revenue was up 9.6% compared to the same quarter last year. Analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.09%. Labcorp's dividend payout ratio (DPR) is 33.29%.

Insider Transactions at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 500 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the transaction, the director directly owned 12,166 shares of the company's stock, valued at approximately $3,223,990. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Adam H. Schechter sold 6,105 shares of Labcorp stock in a transaction on Monday, May 12th. The stock was sold at an average price of $248.73, for a total transaction of $1,518,496.65. Following the transaction, the chief executive officer directly owned 98,962 shares in the company, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 11,834 shares of company stock valued at $2,928,714. Corporate insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research report on Friday. HSBC cut shares of 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. Evercore ISI increased their price objective on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a research report on Friday. UBS Group increased their price objective on shares of Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $285.00.

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.

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