Belfer Management LLC Sells 96 Shares of Labcorp Holdings Inc. $LH

Belfer Management LLC lessened its position in Labcorp Holdings Inc. (NYSE:LH) by 7.2% during the second quarter, Holdings Channel.com reports. The fund owned 1,243 shares of the medical research company’s stock after selling 96 shares during the period. Labcorp accounts for 5.0% of Belfer Management LLC’s holdings, making the stock its 11th largest holding. Belfer Management LLC’s holdings in Labcorp were worth $326,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LH. Brighton Jones LLC bought a new stake in Labcorp in the 4th quarter worth $991,000. UMB Bank n.a. boosted its stake in shares of Labcorp by 19.8% during the 1st quarter. UMB Bank n.a. now owns 465 shares of the medical research company’s stock valued at $108,000 after purchasing an additional 77 shares in the last quarter. Wedmont Private Capital boosted its stake in shares of Labcorp by 5.0% during the 1st quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock valued at $204,000 after purchasing an additional 44 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Labcorp by 60.8% during the 1st quarter. GAMMA Investing LLC now owns 3,479 shares of the medical research company’s stock valued at $810,000 after purchasing an additional 1,316 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Labcorp by 2,584.9% during the 1st quarter. SG Americas Securities LLC now owns 25,963 shares of the medical research company’s stock valued at $6,043,000 after purchasing an additional 24,996 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Trading Up 0.1%

Shares of NYSE LH opened at $277.96 on Friday. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $289.20. The stock has a market cap of $23.10 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89. The firm has a 50-day moving average of $275.30 and a 200 day moving average of $255.87. 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 (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, beating 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 during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period last year, the company posted $3.94 EPS. Labcorp’s revenue 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 expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be issued a $0.72 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s payout ratio is 31.79%.

Analyst Ratings Changes

LH has been the topic of a number of research reports. Evercore ISI lifted their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday. Barclays lifted their target price on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. Finally, Morgan Stanley lifted their price target on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.00.

Insider Activity

In other Labcorp news, 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 directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,046 shares of company stock valued at $4,074,692 over the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

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.