Amalgamated Bank Has $4.36 Million Stock Holdings in Labcorp Holdings Inc. $LH

Amalgamated Bank grew its position in Labcorp Holdings Inc. (NYSE:LH) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,620 shares of the medical research company’s stock after purchasing an additional 317 shares during the period. Amalgamated Bank’s holdings in Labcorp were worth $4,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LH. Vontobel Holding Ltd. grew its position in Labcorp by 7.9% in the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after purchasing an additional 225 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after acquiring an additional 1,816 shares during the period. D.A. Davidson & CO. grew its position in shares of Labcorp by 12.7% in the 2nd quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock valued at $3,507,000 after acquiring an additional 1,507 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of Labcorp by 2.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after acquiring an additional 43,509 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Labcorp by 11.7% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock valued at $55,154,000 after acquiring an additional 22,018 shares during the period. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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 sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. The trade was a 63.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction dated 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 completion of the sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Labcorp Stock Performance

Shares of LH stock opened at $254.23 on Monday. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 24.97, a PEG 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. The company has a 50-day simple moving average of $276.83 and a 200 day simple moving average of $261.52. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping the consensus estimate 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 net margin of 6.21% and a return on equity of 15.85%. Labcorp’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LH shares. UBS Group decreased their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday. Truist Financial set a $320.00 price objective on shares of Labcorp in a research report on Tuesday, October 14th. HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective for the company. in a research report on Thursday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Finally, Hsbc Global Res downgraded shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average price target of $295.54.

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.