Ables Iannone Moore & Associates Inc. Sells 75 Shares of Labcorp Holdings Inc. $LH

Ables Iannone Moore & Associates Inc. decreased its holdings in Labcorp Holdings Inc. (NYSE:LH) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,475 shares of the medical research company’s stock after selling 75 shares during the period. Ables Iannone Moore & Associates Inc.’s holdings in Labcorp were worth $387,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LH. Brighton Jones LLC bought a new position in Labcorp during the fourth quarter valued at approximately $991,000. Nomura Holdings Inc. purchased a new stake in Labcorp during the fourth quarter valued at approximately $632,000. Mufg Securities Americas Inc. purchased a new stake in Labcorp during the fourth quarter valued at approximately $283,000. Quantinno Capital Management LP raised its position in Labcorp by 114.5% during the fourth quarter. Quantinno Capital Management LP now owns 6,850 shares of the medical research company’s stock valued at $1,571,000 after purchasing an additional 3,656 shares during the period. Finally, ProShare Advisors LLC raised its position in Labcorp by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 12,672 shares of the medical research company’s stock valued at $2,906,000 after purchasing an additional 1,342 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Trading Down 0.6%

Shares of NYSE LH opened at $278.06 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The business’s 50 day moving average price is $265.85 and its 200-day moving average price is $251.11. Labcorp Holdings Inc. has a fifty-two week low of $209.38 and a fifty-two week high of $283.47. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.79 and a beta of 0.85.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.49 billion. During the same period in the prior year, the business posted $3.94 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, sell-side analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s dividend payout ratio is 31.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LH. HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a research report on Thursday, July 10th. UBS Group upped their price objective on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Evercore ISI upped their price objective on Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, July 25th. Morgan Stanley increased their price target on Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Finally, Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and an average target price of $290.33.

Insider Transactions at Labcorp

In related news, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the transaction, the director owned 6,656 shares of the company’s stock, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,546 shares of company stock worth $4,207,192 in the last ninety days. 0.84% of the stock is owned by company 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.