Boyar Asset Management Inc. Buys 108 Shares of Labcorp Holdings Inc. $LH

Boyar Asset Management Inc. lifted its stake in Labcorp Holdings Inc. (NYSE:LH) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,993 shares of the medical research company’s stock after buying an additional 108 shares during the period. Boyar Asset Management Inc.’s holdings in Labcorp were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LH. Brighton Jones LLC acquired a new position in shares of Labcorp during the fourth quarter worth $991,000. NBC Securities Inc. bought a new stake in Labcorp during the first quarter valued at $130,000. Merit Financial Group LLC boosted its position in Labcorp by 23.0% during the first quarter. Merit Financial Group LLC now owns 3,414 shares of the medical research company’s stock valued at $795,000 after acquiring an additional 639 shares during the last quarter. Procyon Advisors LLC bought a new stake in Labcorp during the first quarter valued at $204,000. Finally, WealthBridge Investment Counsel Inc. boosted its position in shares of Labcorp by 0.5% during the 1st quarter. WealthBridge Investment Counsel Inc. now owns 34,201 shares of the medical research company’s stock worth $7,960,000 after purchasing an additional 175 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were 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 in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LH shares. 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, July 25th. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. UBS Group raised their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Evercore ISI raised their price target on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Robert W. Baird set a $311.00 price target on shares of Labcorp in a research note on Monday, August 25th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Price Performance

Shares of NYSE:LH opened at $276.56 on Friday. The stock has a market cap of $22.98 billion, a PE ratio of 30.52, a PEG ratio of 1.79 and a beta of 0.89. The company’s fifty day moving average is $273.70 and its 200 day moving average is $254.43. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last issued its 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. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter last year, the company earned $3.94 EPS. The firm’s revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were paid a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. Labcorp’s payout ratio is presently 31.79%.

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.