MBL Wealth LLC Sells 625 Shares of Labcorp Holdings Inc. $LH

MBL Wealth LLC cut its holdings in Labcorp Holdings Inc. (NYSE:LH) by 2.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,371 shares of the medical research company’s stock after selling 625 shares during the quarter. Labcorp makes up approximately 0.7% of MBL Wealth LLC’s holdings, making the stock its 28th largest holding. MBL Wealth LLC’s holdings in Labcorp were worth $7,710,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LH. Golden State Wealth Management LLC grew its stake in shares of Labcorp by 88.1% in the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. bought a new stake in Labcorp during the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC bought a new stake in Labcorp during the 1st quarter valued at approximately $28,000. Larson Financial Group LLC boosted its position in Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new stake in Labcorp during the 1st quarter valued at approximately $31,000. 95.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

LH has been the topic of several research reports. Barclays lifted their price objective on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday. Truist Financial lifted their price objective on Labcorp from $290.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Morgan Stanley lifted their price objective on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Saturday, September 27th. Ten 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 MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.00.

Labcorp Stock Performance

Shares of LH opened at $276.56 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average price is $273.70 and its 200-day moving average price is $254.54. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $289.20. The stock has a market cap of $22.98 billion, a P/E ratio of 30.52, a P/E/G ratio of 1.77 and a beta of 0.89.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. During the same period in the previous year, the business earned $3.94 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 28th. Labcorp’s payout ratio is presently 31.79%.

Insider Activity

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the transaction, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,046 shares of company stock valued at $4,074,692 in the last quarter. Insiders own 0.84% of the company’s stock.

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.