Cooper Financial Group Reduces Holdings in Labcorp Holdings Inc. $LH

Cooper Financial Group reduced its stake in Labcorp Holdings Inc. (NYSE:LH) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,626 shares of the medical research company’s stock after selling 103 shares during the quarter. Cooper Financial Group’s holdings in Labcorp were worth $1,214,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in Labcorp by 88.1% in the 1st 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 in the last quarter. North Capital Inc. purchased a new stake in Labcorp in the 1st quarter valued at $27,000. TruNorth Capital Management LLC purchased a new stake in Labcorp in the 1st quarter valued at $28,000. Larson Financial Group LLC grew its holdings in 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 buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in Labcorp in the 1st quarter valued at $31,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Labcorp Stock Performance

NYSE LH opened at $287.14 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The company has a market cap of $23.86 billion, a P/E ratio of 31.69, a P/E/G ratio of 1.81 and a beta of 0.85. The stock has a 50-day moving average of $272.66 and a two-hundred day moving average of $253.74. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $288.36.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping 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 net margin of 5.66% and a return on equity of 15.45%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date was Thursday, August 28th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s payout ratio is 31.79%.

Insider Buying and Selling

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the sale, the director owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction dated 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 completion of the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. The trade was a 63.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock worth $4,074,692 over the last ninety days. Insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on LH. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Truist Financial increased their price target on Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays restated a “cautious” rating on shares of Labcorp in a report on Wednesday, June 25th. Morgan Stanley increased their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Finally, HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a research note on Thursday, July 10th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $290.33.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.