eCIO Inc. Invests $94,000 in Labcorp Holdings Inc. $LH

eCIO Inc. acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 405 shares of the medical research company’s stock, valued at approximately $94,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LH. Golden State Wealth Management LLC boosted its position in Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. bought a new stake in shares of Labcorp during the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC acquired a new stake in shares of Labcorp in the 1st quarter valued at approximately $28,000. Larson Financial Group LLC grew its stake in shares of Labcorp by 140.4% in the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Labcorp in the first quarter valued at $31,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Transactions at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the company’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the transaction, the director owned 8,666 shares in the company, valued at $2,426,480. This trade represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock worth $4,207,192 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Barclays restated a “cautious” rating on shares of Labcorp in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, July 26th. Morgan Stanley lifted 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, UBS Group upped their price objective on Labcorp from $282.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Trading Up 2.6%

Shares of LH stock opened at $280.02 on Friday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $283.47. The company has a market capitalization of $23.27 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.75 and a beta of 0.85. The firm has a 50 day moving average price of $265.53 and a two-hundred day moving average price of $250.94. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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

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.