TD Private Client Wealth LLC Raises Stake in Labcorp Holdings Inc. $LH

TD Private Client Wealth LLC increased its stake in shares of Labcorp Holdings Inc. (NYSE:LH) by 2.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,145 shares of the medical research company’s stock after purchasing an additional 134 shares during the period. TD Private Client Wealth LLC’s holdings in Labcorp were worth $1,351,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LH. Brighton Jones LLC bought a new position in Labcorp in the 4th quarter worth about $991,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Labcorp during the 4th quarter valued at about $25,929,000. GAMMA Investing LLC boosted its stake in shares of Labcorp by 37,334.2% during the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock valued at $188,450,000 after purchasing an additional 807,539 shares during the period. Parallel Advisors LLC boosted its stake in shares of Labcorp by 111.6% during the first quarter. Parallel Advisors LLC now owns 2,966 shares of the medical research company’s stock valued at $690,000 after purchasing an additional 1,564 shares during the period. Finally, Delphi Management Inc. MA purchased a new stake in shares of Labcorp during the first quarter valued at approximately $1,423,000. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on LH shares. Evercore ISI lifted their price objective on Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a research report on Friday, July 25th. UBS Group raised their target price on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Robert W. Baird set a $311.00 target price on Labcorp in a research note on Monday, August 25th. Barclays restated a “cautious” rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, HSBC cut Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Nine research 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Stock Performance

Shares of LH opened at $276.18 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The firm has a market capitalization of $22.95 billion, a P/E ratio of 30.48, a PEG ratio of 1.79 and a beta of 0.85. The business has a fifty day moving average of $270.42 and a 200 day moving average of $252.68.

Labcorp (NYSE:LH) last released its quarterly 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. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same quarter in the previous year, the company posted $3.94 earnings per share. Labcorp’s revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side 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 was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were given a dividend of $0.72 per share. The ex-dividend date was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp’s dividend payout ratio is 31.79%.

Insider Buying and Selling

In related news, 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 value of $1,505,439.54. Following the transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the sale, the executive vice president directly owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,546 shares of company stock valued at $4,207,192. 0.84% of the stock is currently owned by company insiders.

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.