Supplemental Annuity Collective Trust of NJ Sells 700 Shares of Labcorp Holdings Inc. $LH

Supplemental Annuity Collective Trust of NJ cut its holdings in Labcorp Holdings Inc. (NYSE:LH) by 14.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,300 shares of the medical research company’s stock after selling 700 shares during the period. Supplemental Annuity Collective Trust of NJ’s holdings in Labcorp were worth $1,129,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Labcorp by 10.2% during the second 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 raised its holdings in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock valued at $4,022,000 after purchasing an additional 40 shares during the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Labcorp by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 3,341 shares of the medical research company’s stock valued at $778,000 after purchasing an additional 45 shares during the last quarter. Tempus Wealth Planning LLC raised its holdings in shares of Labcorp by 2.0% during the second quarter. Tempus Wealth Planning LLC now owns 2,337 shares of the medical research company’s stock valued at $613,000 after purchasing an additional 45 shares during the last quarter. Finally, Rossby Financial LCC lifted 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 buying an additional 45 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

Labcorp Stock Performance

NYSE:LH opened at $252.55 on Wednesday. The stock has a 50-day simple moving average of $275.96 and a two-hundred day simple moving average of $262.06. Labcorp Holdings Inc. has a 52-week low of $209.38 and a 52-week high of $293.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The firm has a market capitalization of $20.99 billion, a PE ratio of 24.81, a P/E/G ratio of 1.59 and a beta of 0.89.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the company posted $3.50 earnings per share. Labcorp’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, November 26th. Labcorp’s dividend payout ratio is presently 28.29%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LH shares. Morgan Stanley increased their price target on Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 10th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. UBS Group lowered their price target on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 price target on Labcorp in a report on Tuesday, October 14th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $295.54.

Insiders Place Their Bets

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the transaction, the director directly owned 2,469 shares in the company, valued at $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’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 completion of the transaction, 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 SEC filing for this sale provides additional information. Insiders sold a total of 16,555 shares of company stock worth $4,347,040 over the last three months. 0.84% of the stock is currently owned by company insiders.

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.