Labcorp Holdings Inc. $LH Shares Sold by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its stake in Labcorp Holdings Inc. (NYSE:LH) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,524 shares of the medical research company’s stock after selling 248 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Labcorp were worth $400,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB lifted its position 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 purchasing an additional 40 shares in the last quarter. Highland Capital Management LLC lifted its position in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after purchasing an additional 40 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position 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 purchasing an additional 45 shares in the last quarter. Tempus Wealth Planning LLC lifted its position 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 purchasing an additional 45 shares in the last quarter. Finally, Horizon Investments LLC lifted its position 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 purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Hsbc Global Res cut shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a research report on Thursday, July 10th. Barclays increased their price target on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Finally, Mizuho raised their target price on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $296.46.

Insider Activity at Labcorp

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the 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 transaction, the director directly owned 6,656 shares in the company, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were 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 in the company, valued at $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,046 shares of company stock valued at $4,074,692. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Up 1.9%

Shares of NYSE:LH opened at $291.34 on Tuesday. The firm’s 50 day moving average price is $277.66 and its 200 day moving average price is $258.38. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $291.78. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

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

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 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.