938 Shares in Labcorp Holdings Inc. (NYSE:LH) Bought by Neo Ivy Capital Management

Neo Ivy Capital Management acquired a new stake in shares of Labcorp Holdings Inc. (NYSE:LH) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 938 shares of the medical research company’s stock, valued at approximately $218,000.

Other hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC increased its holdings in Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after buying an additional 52 shares during the last quarter. North Capital Inc. acquired a new position in shares of Labcorp in the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp in the 1st quarter worth approximately $28,000. Larson Financial Group LLC increased its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. acquired a new stake in shares of Labcorp during the 1st quarter valued at approximately $31,000. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Labcorp

In other news, CAO Peter J. Wilkinson sold 829 shares of the company’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer owned 2,054 shares in the company, valued at $497,602.04. This represents a 28.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adam H. Schechter sold 6,105 shares of Labcorp stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the transaction, the chief executive officer directly owned 98,962 shares in the company, valued at approximately $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,834 shares of company stock worth $2,928,714 in the last quarter. Company insiders own 0.84% of the company’s stock.

Labcorp Price Performance

Shares of LH opened at $264.46 on Friday. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The stock’s fifty day moving average is $254.43 and its 200-day moving average is $244.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.60 and a current ratio of 1.50. The firm has a market capitalization of $22.14 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 1.68 and a beta of 0.82.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. Labcorp’s revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.94 EPS. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.09%. Labcorp’s dividend payout ratio (DPR) is presently 33.29%.

Analysts Set New Price Targets

LH has been the subject of several recent research reports. Robert W. Baird boosted their target price on shares of Labcorp from $290.00 to $302.00 and gave the company an “outperform” rating in a research note on Friday. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Barclays reiterated a “cautious” rating on shares of Labcorp in a research note on Wednesday, June 25th. UBS Group lifted their target price on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday. Finally, Redburn Atlantic began coverage on Labcorp in a report on Wednesday, April 2nd. They set a “buy” rating and a $276.00 target price for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.00.

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.