Labcorp Holdings Inc. $LH Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its position in Labcorp Holdings Inc. (NYSE:LH) by 4.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 155,776 shares of the medical research company’s stock after selling 7,990 shares during the period. Hsbc Holdings PLC owned about 0.19% of Labcorp worth $40,842,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in LH. Select Equity Group L.P. grew its position in shares of Labcorp by 39.1% in the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after purchasing an additional 624,099 shares during the period. Nordea Investment Management AB boosted its stake in Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after buying an additional 401,808 shares during the last quarter. Invesco Ltd. grew its holdings in Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock valued at $330,750,000 after buying an additional 318,865 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock valued at $181,819,000 after acquiring an additional 280,011 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Labcorp by 24.5% during the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock worth $295,950,000 after acquiring an additional 250,486 shares during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Insider Transactions at Labcorp

In related news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the sale, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LH. UBS Group dropped their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Mizuho lifted their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Barclays upped their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Finally, Robert W. Baird set a $304.00 price objective on Labcorp in a report on Wednesday, October 29th. Twelve equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Price Performance

Shares of LH stock opened at $267.76 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a fifty day simple moving average of $270.80 and a 200-day simple moving average of $265.31. The company has a market capitalization of $22.20 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72.

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

Labcorp Announces Dividend

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

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.