Quantum Portfolio Management LLC Grows Holdings in Labcorp Holdings Inc. $LH

Quantum Portfolio Management LLC raised its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 54.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,325 shares of the medical research company’s stock after purchasing an additional 2,576 shares during the quarter. Quantum Portfolio Management LLC’s holdings in Labcorp were worth $2,103,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after acquiring an additional 11,262 shares during the last quarter. Lazard Asset Management LLC boosted its position in shares of Labcorp by 224.1% during the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after acquiring an additional 684,153 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Labcorp by 3.1% in the second quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after purchasing an additional 1,043 shares in the last quarter. Osaic Holdings Inc. increased its position in Labcorp by 13.8% in the second quarter. Osaic Holdings Inc. now owns 38,620 shares of the medical research company’s stock worth $10,025,000 after purchasing an additional 4,690 shares during the last quarter. Finally, Equitable Trust Co. raised its stake in Labcorp by 3.5% during the second quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock valued at $20,325,000 after purchasing an additional 2,644 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LH. Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. Weiss Ratings cut Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. UBS Group decreased 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. Robert W. Baird set a $313.00 target price on Labcorp in a report on Wednesday. Finally, Mizuho increased their price target on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Ten investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $299.77.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. The trade was a 73.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the sale, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Labcorp Stock Performance

Shares of Labcorp stock opened at $270.90 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $260.02 and its two-hundred day moving average is $265.96. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a market capitalization of $22.46 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.71 and a beta of 1.00.

Labcorp (NYSE:LH) last issued its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. The business’s 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, analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be issued a $0.72 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. Labcorp’s payout ratio is presently 28.29%.

About Labcorp

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.