Prudent Man Advisors LLC Has $1.36 Million Stake in Labcorp Holdings Inc. (NYSE:LH)

Prudent Man Advisors LLC lifted its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 3.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,827 shares of the medical research company’s stock after purchasing an additional 193 shares during the quarter. Prudent Man Advisors LLC’s holdings in Labcorp were worth $1,356,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LH. Brighton Jones LLC acquired a new position in shares of Labcorp during the fourth quarter worth approximately $991,000. Steward Partners Investment Advisory LLC raised its position in shares of Labcorp by 13.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 733 shares of the medical research company’s stock worth $168,000 after purchasing an additional 86 shares during the period. Proficio Capital Partners LLC purchased a new stake in Labcorp in the 4th quarter valued at $16,512,000. Independent Advisor Alliance raised its position in Labcorp by 25.8% in the 4th quarter. Independent Advisor Alliance now owns 2,544 shares of the medical research company’s stock valued at $583,000 after buying an additional 521 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Labcorp by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 3,077 shares of the medical research company’s stock valued at $706,000 after buying an additional 1,692 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Labcorp

In other Labcorp news, EVP Brian J. Caveney sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the completion of the transaction, the executive vice president owned 30,067 shares in the company, valued at $7,426,549. This trade represents a 6.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director owned 12,166 shares of the company’s stock, valued at approximately $3,223,990. This represents a 3.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,834 shares of company stock worth $2,928,714 in the last three months. Corporate insiders own 0.84% of the company’s stock.

Labcorp Trading Down 1.7%

Shares of Labcorp stock opened at $249.24 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The firm has a market cap of $20.86 billion, a PE ratio of 28.81, a P/E/G ratio of 1.58 and a beta of 0.82. Labcorp Holdings Inc. has a 1 year low of $205.98 and a 1 year high of $265.72. The stock has a fifty day moving average price of $253.64 and a 200-day moving average price of $243.18.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, topping the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.68 EPS. Equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.16%. Labcorp’s payout ratio is 33.29%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Redburn Atlantic assumed coverage on Labcorp in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price target for the company. Piper Sandler reissued a “neutral” rating and issued a $280.00 price target (up from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. HSBC lowered Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target for the company. in a research report on Thursday. Morgan Stanley increased their price target on Labcorp from $270.00 to $283.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen lowered Labcorp from a “buy” rating to a “hold” rating in a research report on Friday, April 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $276.38.

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.