Burney Co. Cuts Stake in Labcorp Holdings Inc. $LH

Burney Co. trimmed its position in shares of Labcorp Holdings Inc. (NYSE:LH) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 8,777 shares of the medical research company’s stock after selling 315 shares during the quarter. Burney Co.’s holdings in Labcorp were worth $2,304,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in Labcorp by 10.2% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 40 shares during the last quarter. Highland Capital Management LLC boosted its holdings in shares of Labcorp by 0.3% during the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock valued at $4,022,000 after acquiring an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Labcorp by 1.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock valued at $778,000 after acquiring an additional 45 shares during the last quarter. Tempus Wealth Planning LLC boosted its holdings in shares of Labcorp by 2.0% during the 2nd quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock valued at $613,000 after acquiring an additional 45 shares during the last quarter. Finally, Rossby Financial LCC boosted its holdings in shares of Labcorp by 8.9% during the 2nd quarter. Rossby Financial LCC now owns 550 shares of the medical research company’s stock valued at $144,000 after acquiring an additional 45 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’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 transaction of $1,059,352.26. Following the sale, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. The trade was a 63.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Evercore ISI raised their price target on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. UBS Group dropped their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Barclays raised their price target on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $295.54.

Labcorp Stock Performance

LH opened at $258.41 on Tuesday. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 1.59 and a beta of 0.89. The company’s 50 day moving average is $276.47 and its 200 day moving average is $261.81. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $293.72.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping 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 company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same quarter last year, the business earned $3.50 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. 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 EPS for the current year.

Labcorp Announces Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

Labcorp Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.