Supplemental Annuity Collective Trust of NJ Trims Holdings in Labcorp Holdings Inc. $LH

Supplemental Annuity Collective Trust of NJ lessened its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the medical research company’s stock after selling 700 shares during the period. Supplemental Annuity Collective Trust of NJ’s holdings in Labcorp were worth $1,129,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Labcorp by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after purchasing an additional 71,464 shares during the period. Select Equity Group L.P. grew its holdings in shares of 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 worth $516,696,000 after acquiring an additional 624,099 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Labcorp by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after acquiring an additional 43,509 shares during the period. Nordea Investment Management AB grew its holdings in shares of 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 worth $476,995,000 after acquiring an additional 401,808 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of 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 during the period. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LH. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday, October 14th. Mizuho lifted their price target on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, UBS Group lowered their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $295.54.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’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 value of $1,059,352.26. Following the sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was 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 $24,895,642.82. The trade was a 5.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 16,555 shares of company stock worth $4,347,040 in the last 90 days. Insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Labcorp stock opened at $252.55 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $20.99 billion, a P/E ratio of 24.81, a PEG ratio of 1.59 and a beta of 0.89. The stock’s 50 day moving average is $275.96 and its 200 day moving average is $262.06. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.05. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, 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. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio is presently 28.29%.

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.