New York Life Investment Management LLC Purchases 94 Shares of Labcorp Holdings Inc. $LH

New York Life Investment Management LLC raised its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,557 shares of the medical research company’s stock after acquiring an additional 94 shares during the quarter. New York Life Investment Management LLC’s holdings in Labcorp were worth $3,296,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of LH. Brighton Jones LLC bought a new stake in Labcorp during the fourth quarter valued at $991,000. Golden State Wealth Management LLC boosted its stake in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after acquiring an additional 52 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Labcorp by 11.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,502 shares of the medical research company’s stock worth $2,416,000 after acquiring an additional 1,108 shares in the last quarter. Amalgamated Bank boosted its stake in Labcorp by 1.5% during the first quarter. Amalgamated Bank now owns 16,303 shares of the medical research company’s stock worth $3,794,000 after acquiring an additional 248 shares in the last quarter. Finally, Mather Group LLC. boosted its stake in Labcorp by 22.2% during the first quarter. Mather Group LLC. now owns 998 shares of the medical research company’s stock worth $232,000 after acquiring an additional 181 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the 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 sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

Labcorp Price Performance

LH stock opened at $252.81 on Friday. The company has a market capitalization of $21.01 billion, a P/E ratio of 24.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72. The business has a 50-day simple moving average of $277.30 and a two-hundred day simple moving average of $260.80.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s payout ratio is 28.29%.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of research analyst reports. Mizuho increased their price objective on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. UBS Group cut their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Evercore ISI increased their price objective on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $295.54.

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.