Vise Technologies Inc. Purchases New Holdings in Labcorp Holdings Inc. $LH

Vise Technologies Inc. purchased a new stake in Labcorp Holdings Inc. (NYSE:LH) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,835 shares of the medical research company’s stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Labcorp by 7.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after acquiring an additional 11,262 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Labcorp by 7.9% during the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock worth $802,000 after purchasing an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings 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 purchasing an additional 1,816 shares during the period. D.A. Davidson & CO. lifted its stake in 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 purchasing an additional 1,507 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in 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 purchasing an additional 43,509 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Activity at Labcorp

In related news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the sale, the director directly owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,745 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.4%

LH opened at $266.81 on Friday. The stock has a fifty day moving average of $273.33 and a 200-day moving average of $263.69. The company has a market capitalization of $22.12 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. 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 (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, beating the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the prior year, the company posted $3.50 earnings per share. Labcorp’s revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, equities analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

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

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Robert W. Baird set a $304.00 target price on Labcorp in a report on Wednesday, October 29th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Mizuho upped their price objective on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Finally, Morgan Stanley increased their price objective 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. Twelve equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.07.

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.