Sequoia Financial Advisors LLC Has $41.36 Million Stock Holdings in Labcorp Holdings Inc. $LH

Sequoia Financial Advisors LLC reduced its stake in Labcorp Holdings Inc. (NYSE:LH) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,085 shares of the medical research company’s stock after selling 1,892 shares during the period. Sequoia Financial Advisors LLC owned 0.17% of Labcorp worth $41,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Harbor Asset Planning Inc. acquired a new stake in Labcorp during the second quarter worth approximately $25,000. Caldwell Trust Co bought a new position in shares of Labcorp during the second quarter worth approximately $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp in the 2nd quarter valued at $26,000. Motco bought a new position in Labcorp during the 3rd quarter worth $32,000. Finally, Headlands Technologies LLC boosted its position 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 acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Trading Up 0.7%

NYSE LH opened at $270.90 on Friday. The company has a market cap of $22.46 billion, a price-to-earnings ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The business’s fifty day moving average is $260.02 and its 200 day moving average is $265.92.

Labcorp (NYSE:LH) last posted its 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. The firm 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 business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company earned $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be given a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, February 27th. Labcorp’s dividend payout ratio is 28.29%.

Insider Activity at Labcorp

In related news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the transaction, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction dated 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 directly owned 87,574 shares in the company, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. UBS Group lowered their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Evercore ISI lifted their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Mizuho increased their target price on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Truist Financial set a $320.00 price target on Labcorp in a research note on Tuesday, October 14th. Ten research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $299.77.

Labcorp Company Profile

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.