Cornell Pochily Investment Advisors Inc. Acquires 100 Shares of Labcorp Holdings Inc. $LH

Cornell Pochily Investment Advisors Inc. grew its holdings in Labcorp Holdings Inc. (NYSE:LH) by 3.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,136 shares of the medical research company’s stock after acquiring an additional 100 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in Labcorp were worth $823,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after buying an additional 40 shares in the last quarter. Wedmont Private Capital grew its holdings in shares of Labcorp by 5.0% during the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock worth $204,000 after buying an additional 44 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after buying an additional 45 shares in the last quarter. Tempus Wealth Planning LLC grew its holdings in shares of Labcorp by 2.0% during the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock worth $613,000 after buying an additional 45 shares in the last quarter. Finally, Horizon Investments LLC grew its holdings in shares of Labcorp by 4.2% during the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after buying an additional 48 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was 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 directly owned 2,274 shares of the company’s stock, valued at $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director directly owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 15,046 shares of company stock valued at $4,074,692. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LH shares. Morgan Stanley increased their price objective on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on Labcorp in a report on Monday, August 25th. Barclays increased their price objective on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Finally, UBS Group increased their price target on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Nine 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, the company presently has an average rating of “Moderate Buy” and an average price target of $291.58.

Labcorp Stock Performance

Shares of NYSE LH opened at $279.02 on Friday. The stock has a 50 day moving average price of $273.46 and a 200 day moving average price of $254.18. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The stock has a market capitalization of $23.19 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.78 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same period in the prior year, the firm posted $3.94 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th were given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp’s dividend payout ratio (DPR) is presently 31.79%.

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.