1,757 Shares of Labcorp Holdings Inc. $LH Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC bought a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the third quarter, Holdings Channel reports. The firm bought 1,757 shares of the medical research company’s stock, valued at approximately $541,000.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its position in Labcorp by 4.9% during the 3rd quarter. Signaturefd LLC now owns 687 shares of the medical research company’s stock worth $212,000 after purchasing an additional 32 shares in the last quarter. CoreCap Advisors LLC raised its holdings in Labcorp by 13.8% in the third quarter. CoreCap Advisors LLC now owns 289 shares of the medical research company’s stock valued at $89,000 after buying an additional 35 shares during the period. Krilogy Financial LLC lifted its position in Labcorp by 2.4% during the third quarter. Krilogy Financial LLC now owns 1,590 shares of the medical research company’s stock valued at $502,000 after buying an additional 37 shares in the last quarter. Meeder Advisory Services Inc. lifted its position in Labcorp by 4.5% during the first quarter. Meeder Advisory Services Inc. now owns 1,021 shares of the medical research company’s stock valued at $272,000 after buying an additional 44 shares in the last quarter. Finally, Grove Bank & Trust lifted its position in Labcorp by 1.3% during the second quarter. Grove Bank & Trust now owns 3,719 shares of the medical research company’s stock valued at $1,041,000 after buying an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HSBC upgraded shares of Labcorp from a “hold” rating to a “buy” rating and set a $410.00 price objective for the company in a research note on Thursday. UBS Group raised their target price on shares of Labcorp from $380.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Bank of America lifted their target price on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Labcorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, October 21st. Finally, Barclays upped their price target on shares of Labcorp from $330.00 to $380.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $369.08.

Insider Activity

In other Labcorp news, Director Richelle P. Parham sold 1,078 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $361.22, for a total value of $389,395.16. Following the completion of the transaction, the director directly owned 2,288 shares of the company’s stock, valued at $826,471.36. This represents a 32.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Bryan T. Vaughn sold 306 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $353.70, for a total value of $108,232.20. Following the sale, the executive vice president owned 6,845 shares of the company’s stock, valued at $2,421,076.50. This represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 9,053 shares of company stock worth $2,947,495. Corporate insiders own 0.84% of the company’s stock.

Labcorp Stock Down 1.3%

Shares of NYSE:LH opened at $362.93 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.41 and a debt-to-equity ratio of 0.60. Labcorp Holdings Inc. has a 52-week low of $244.52 and a 52-week high of $373.34. The company has a 50 day moving average of $325.05 and a two-hundred day moving average of $289.53. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 29.77, a price-to-earnings-growth ratio of 2.08 and a beta of 0.86.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Wednesday, October 28th. The medical research company reported $4.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.64 by $0.14. Labcorp had a net margin of 6.88% and a return on equity of 17.13%. The company had revenue of $3.81 billion for the quarter, compared to analyst estimates of $3.76 billion. During the same quarter last year, the firm posted $4.18 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, analysts forecast that Labcorp Holdings Inc. will post 18.51 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, November 24th. Labcorp’s dividend payout ratio (DPR) is presently 23.63%.

Trending Headlines about Labcorp

Here are the key news stories impacting Labcorp this week:

• Positive Sentiment: HSBC upgraded Labcorp from “hold” to “buy” and set a $410 price target, implying about 13% upside from the cited share price. HSBC analyst rating
• Positive Sentiment: Mizuho raised its price target to $400 from $355, adding to the constructive analyst outlook. Mizuho price target update
• Positive Sentiment: Zacks highlighted LH as a top-ranked momentum stock, which may attract investors focused on price trends; the article is promotional research content, not a guarantee of future performance. Zacks momentum-stock article
• Positive Sentiment: Labcorp completed its acquisition of Millennium Health, expanding its business; the provided report does not detail the expected financial contribution. Millennium Health acquisition completion
• Neutral Sentiment: CFO Julia Wang is scheduled to speak at the UBS Global Healthcare Conference on November 10; no new financial guidance was reported. Conference announcement
• Negative Sentiment: EVP Bryan Vaughn sold 306 shares, while director Richelle Parham sold 1,078 shares. Vaughn’s sale was under a pre-arranged Rule 10b5-1 plan; insider sales can create some near-term concern but do not necessarily signal a change in outlook. Insider transaction report

Labcorp Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.