Metis Global Partners LLC Has $1.19 Million Stake in Labcorp Holdings Inc. $LH

Metis Global Partners LLC reduced its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 10.9% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,521 shares of the medical research company’s stock after selling 553 shares during the quarter. Metis Global Partners LLC’s holdings in Labcorp were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in Labcorp during the second quarter worth $25,000. Larson Financial Group LLC lifted its stake in shares of Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after buying an additional 73 shares during the last quarter. Atlantic Private Wealth LLC bought a new stake in shares of Labcorp during the 1st quarter worth about $36,000. Creative Financial Designs Inc. ADV grew its stake in Labcorp by 392.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock valued at $36,000 after buying an additional 110 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Labcorp in the 1st quarter valued at about $43,000. Institutional investors own 95.94% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of several research reports. Morgan Stanley raised their price objective on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. increased their target price on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Mizuho lifted their price target on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, UBS Group lowered their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Price Performance

Labcorp stock opened at $268.69 on Wednesday. The firm has a market cap of $22.27 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.59 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. The stock’s fifty day moving average price is $273.86 and its two-hundred day moving average price is $263.22. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the firm posted $3.50 EPS. Labcorp’s quarterly revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, research analysts expect that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio is presently 28.29%.

Insider Buying and Selling

In other news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the transaction, the director directly owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.84% of the stock is currently owned by corporate insiders.

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.