Everpar Advisors LLC Has $317,000 Stock Position in Labcorp Holdings Inc. $LH

Everpar Advisors LLC grew its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 12.9% in the second quarter, Holdings Channel reports. The institutional investor owned 1,207 shares of the medical research company’s stock after acquiring an additional 138 shares during the period. Everpar Advisors LLC’s holdings in Labcorp were worth $317,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LH. Golden State Wealth Management LLC boosted its holdings 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 worth $26,000 after purchasing an additional 52 shares during the last quarter. North Capital Inc. purchased a new position in Labcorp during the first quarter worth about $27,000. TruNorth Capital Management LLC purchased a new position in Labcorp during the first quarter worth about $28,000. Larson Financial Group LLC boosted its holdings in Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after purchasing an additional 73 shares during the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in Labcorp during the first quarter worth about $31,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LH has been the topic of several analyst reports. UBS Group boosted their price target on shares of Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Barclays restated a “cautious” rating on shares of Labcorp in a report on Wednesday, June 25th. HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Evercore ISI boosted their target price on shares of Labcorp from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, July 25th. Finally, Morgan Stanley boosted their target price on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.33.

Labcorp Price Performance

Shares of NYSE:LH opened at $274.17 on Wednesday. The company’s fifty day moving average price is $266.54 and its 200-day moving average price is $251.46. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 1.76 and a beta of 0.85. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

Labcorp (NYSE:LH) last announced its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.49 billion. During the same quarter in the prior year, the company earned $3.94 EPS. The firm’s revenue 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, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared 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 of this dividend was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio is presently 31.79%.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 5,643 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the company’s stock in a transaction on Thursday, July 24th. The stock was 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 of the company’s stock, 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. Over the last 90 days, insiders sold 15,546 shares of company stock worth $4,207,192. 0.84% of the stock is currently owned by corporate insiders.

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.