Leavell Investment Management Inc. Has $1.81 Million Position in Labcorp Holdings Inc. $LH

Leavell Investment Management Inc. lifted its stake in Labcorp Holdings Inc. (NYSE:LH) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,894 shares of the medical research company’s stock after acquiring an additional 560 shares during the quarter. Leavell Investment Management Inc.’s holdings in Labcorp were worth $1,810,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. AG2R LA Mondiale Gestion D Actifs increased its stake in shares of Labcorp by 16.2% during the 2nd quarter. AG2R LA Mondiale Gestion D Actifs now owns 5,335 shares of the medical research company’s stock worth $1,400,000 after purchasing an additional 743 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in Labcorp by 1.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 25,948 shares of the medical research company’s stock worth $6,812,000 after buying an additional 256 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Labcorp by 11.7% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock worth $55,154,000 after buying an additional 22,018 shares during the last quarter. Sector Gamma AS bought a new position in Labcorp during the second quarter valued at about $5,115,000. Finally, Asset Management One Co. Ltd. lifted its position in shares of Labcorp by 3.4% in the second quarter. Asset Management One Co. Ltd. now owns 35,393 shares of the medical research company’s stock worth $9,291,000 after buying an additional 1,161 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Analysts Set New Price Targets

LH has been the subject of a number of research analyst reports. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Truist Financial set a $320.00 price objective on Labcorp in a research note on Tuesday, October 14th. Mizuho increased their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Saturday. Finally, UBS Group upped their price target on Labcorp from $305.00 to $325.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Labcorp presently has a consensus rating of “Moderate Buy” and an average price target of $296.46.

Insider Buying and Selling at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the business’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 transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at $617,209.08. The trade was a 63.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director owned 6,656 shares in the company, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,546 shares of company stock valued at $3,094,692 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Labcorp Stock Performance

Labcorp stock opened at $279.72 on Friday. The company has a market cap of $23.25 billion, a PE ratio of 30.87, a PEG ratio of 1.79 and a beta of 0.89. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. Labcorp Holdings Inc. has a 1 year low of $209.38 and a 1 year high of $293.72. The company’s 50-day moving average is $278.60 and its two-hundred day moving average is $259.87.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, beating 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 analyst estimates of $3.49 billion. During the same quarter in the prior year, the firm posted $3.94 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. Equities analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

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 issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio is 31.79%.

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.