Pacer Advisors Inc. Has $87.77 Million Stock Position in Labcorp Holdings Inc. $LH

Pacer Advisors Inc. increased its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 4,070.6% during the third quarter, Holdings Channel reports. The institutional investor owned 305,746 shares of the medical research company’s stock after purchasing an additional 298,415 shares during the period. Pacer Advisors Inc.’s holdings in Labcorp were worth $87,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new position in shares of Labcorp in the 2nd quarter worth $25,000. Caldwell Trust Co bought a new stake in Labcorp during the 2nd quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp during the second quarter worth $26,000. Headlands Technologies LLC lifted its stake in shares of Labcorp by 300.0% in the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock valued at $34,000 after buying an additional 96 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in shares of Labcorp by 392.9% during the second quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after buying an additional 110 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of LH opened at $254.46 on Friday. The stock has a 50 day moving average of $263.34 and a 200 day moving average of $266.43. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.73 and a beta of 0.99. Labcorp Holdings Inc. has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last announced its quarterly earnings data 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. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the company earned $3.50 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts forecast that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

Analyst Ratings Changes

A number of research firms recently weighed in on LH. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday, October 14th. Robert W. Baird set a $304.00 target price on Labcorp in a research report on Wednesday, October 29th. JPMorgan Chase & Co. increased their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Finally, Barclays lifted their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Eleven 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, Labcorp has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Insider Transactions at Labcorp

In related news, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction 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 transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by insiders.

About Labcorp

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.