Highland Capital Management LLC Grows Holdings in Labcorp Holdings Inc. $LH

Highland Capital Management LLC grew its stake in Labcorp Holdings Inc. (NYSE:LH) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,322 shares of the medical research company’s stock after buying an additional 40 shares during the period. Highland Capital Management LLC’s holdings in Labcorp were worth $4,022,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake 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 worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Labcorp in the 1st quarter valued at $27,000. TruNorth Capital Management LLC purchased a new stake in shares of Labcorp in the 1st quarter valued at $28,000. Larson Financial Group LLC boosted its stake 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 purchasing an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Labcorp in the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Activity

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock valued at $4,074,692 in the last quarter. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LH has been the subject of a number of research reports. Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Barclays upped their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, UBS Group upped their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.00.

Labcorp Stock Down 1.0%

NYSE:LH opened at $276.56 on Friday. The firm has a market cap of $22.98 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $289.20. The firm has a 50-day simple moving average of $273.70 and a two-hundred day simple moving average of $254.54.

Labcorp (NYSE:LH) 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. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the business earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 31.79%.

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.