NewEdge Advisors LLC Acquires 1,721 Shares of Labcorp Holdings Inc. $LH

NewEdge Advisors LLC grew its holdings in Labcorp Holdings Inc. (NYSE:LH) by 25.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,546 shares of the medical research company’s stock after acquiring an additional 1,721 shares during the period. NewEdge Advisors LLC’s holdings in Labcorp were worth $1,989,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Wedmont Private Capital grew its position in Labcorp by 5.0% in the first quarter. Wedmont Private Capital now owns 920 shares of the medical research company’s stock worth $204,000 after acquiring an additional 44 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in Labcorp by 1.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock worth $778,000 after acquiring an additional 45 shares in the last quarter. Horizon Investments LLC grew its position in Labcorp by 4.2% in the first quarter. Horizon Investments LLC now owns 1,196 shares of the medical research company’s stock worth $278,000 after acquiring an additional 48 shares in the last quarter. Cidel Asset Management Inc. grew its position in Labcorp by 5.5% in the first quarter. Cidel Asset Management Inc. now owns 941 shares of the medical research company’s stock worth $219,000 after acquiring an additional 49 shares in the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of Labcorp by 3.7% in the first quarter. Synovus Financial Corp now owns 1,389 shares of the medical research company’s stock worth $323,000 after buying an additional 49 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the sale, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,546 shares of company stock worth $4,207,192. 0.84% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on LH shares. Evercore ISI upped their price objective on shares of Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. UBS Group upped their price objective on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Truist Financial upped their price objective on shares of Labcorp from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a report on Monday, August 25th. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average target price of $290.33.

Labcorp Stock Performance

NYSE LH opened at $280.02 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The firm has a market capitalization of $23.27 billion, a price-to-earnings ratio of 30.91, a P/E/G ratio of 1.75 and a beta of 0.85. The company’s fifty day moving average is $265.53 and its two-hundred day moving average is $250.94. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $283.47.

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

Labcorp Dividend Announcement

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

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.