Labcorp Holdings Inc. $LH Shares Sold by Leeward Investments LLC MA

Leeward Investments LLC MA trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,675 shares of the medical research company’s stock after selling 5,055 shares during the period. Leeward Investments LLC MA owned approximately 0.06% of Labcorp worth $13,040,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LH. Select Equity Group L.P. grew its holdings in Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after purchasing an additional 624,099 shares in the last quarter. Nordea Investment Management AB grew its holdings in Labcorp by 28.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock valued at $476,995,000 after purchasing an additional 401,808 shares in the last quarter. Invesco Ltd. grew its holdings in Labcorp by 28.9% during the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after acquiring an additional 318,865 shares in the last quarter. Lord Abbett & CO. LLC grew its holdings in Labcorp by 55.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 781,211 shares of the medical research company’s stock worth $181,819,000 after acquiring an additional 280,011 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Labcorp by 24.5% in the 1st quarter. Alliancebernstein L.P. now owns 1,271,590 shares of the medical research company’s stock valued at $295,950,000 after buying an additional 250,486 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Trading Down 1.5%

Shares of NYSE:LH opened at $279.72 on Friday. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The company has a market cap of $23.25 billion, a PE ratio of 30.87, a P/E/G ratio of 1.79 and a beta of 0.89. The company’s 50-day moving average price is $278.60 and its 200 day moving average price is $259.87. 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 released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS 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 for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the previous year, the firm earned $3.94 EPS. Labcorp’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

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 given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s payout ratio is 31.79%.

Insiders Place Their Bets

In other Labcorp news, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the sale, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’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 transaction of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,546 shares of company stock worth $3,094,692. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LH. Mizuho lifted their price target on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. UBS Group lifted their price target on shares of Labcorp from $305.00 to $325.00 and gave the company a “buy” rating in a report on Friday, October 17th. Evercore ISI lifted their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a research report on Thursday, July 10th. Finally, Morgan Stanley lifted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $296.46.

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.