Wedbush Securities Inc. Invests $256,000 in Labcorp Holdings Inc. $LH

Wedbush Securities Inc. acquired a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 976 shares of the medical research company’s stock, valued at approximately $256,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Asset Planning Inc. purchased a new position in shares of Labcorp in the 2nd quarter worth approximately $25,000. Larson Financial Group LLC lifted its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after acquiring an additional 73 shares during the last quarter. Atlantic Private Wealth LLC purchased a new position in shares of Labcorp during the 1st quarter worth about $36,000. Creative Financial Designs Inc. ADV lifted its stake in Labcorp by 392.9% in the second quarter. Creative Financial Designs Inc. ADV now owns 138 shares of the medical research company’s stock worth $36,000 after purchasing an additional 110 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Labcorp during the first quarter valued at approximately $43,000. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Down 0.3%

LH stock opened at $267.31 on Thursday. The firm’s 50 day moving average price is $273.71 and its 200-day moving average price is $263.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $293.72. The firm has a market cap of $22.16 billion, a PE ratio of 26.20, a PEG ratio of 1.59 and a beta of 0.91.

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

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be given a $0.72 dividend. 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%.

Analyst Ratings Changes

Several equities research analysts have weighed in on LH shares. UBS Group lowered their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Evercore ISI increased their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, Robert W. Baird set a $304.00 target price on shares of Labcorp in a report on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $297.07.

Insider Buying and Selling

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director owned 2,469 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.84% of the company’s stock.

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.