Belpointe Asset Management LLC Increases Stock Holdings in Labcorp Holdings Inc. $LH

Belpointe Asset Management LLC boosted its stake in Labcorp Holdings Inc. (NYSE:LH) by 6.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,833 shares of the medical research company’s stock after buying an additional 108 shares during the quarter. Belpointe Asset Management LLC’s holdings in Labcorp were worth $481,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. DAVENPORT & Co LLC grew its stake in shares of Labcorp by 4.9% in the 2nd quarter. DAVENPORT & Co LLC now owns 3,901 shares of the medical research company’s stock worth $1,024,000 after acquiring an additional 181 shares in the last quarter. Marietta Wealth Management LLC grew its position in Labcorp by 2.9% in the 2nd quarter. Marietta Wealth Management LLC now owns 29,374 shares of the medical research company’s stock worth $7,711,000 after purchasing an additional 819 shares in the last quarter. Highland Capital Management LLC increased its stake in Labcorp by 0.3% in the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock valued at $4,022,000 after buying an additional 40 shares during the last quarter. Capital City Trust Co. FL lifted its position in shares of Labcorp by 0.6% during the 2nd quarter. Capital City Trust Co. FL now owns 15,402 shares of the medical research company’s stock worth $4,043,000 after buying an additional 98 shares in the last quarter. Finally, Boyar Asset Management Inc. boosted its stake in shares of Labcorp by 2.8% in the 2nd quarter. Boyar Asset Management Inc. now owns 3,993 shares of the medical research company’s stock worth $1,048,000 after buying an additional 108 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Labcorp Stock Performance

Shares of LH opened at $277.60 on Friday. Labcorp Holdings Inc. has a 12-month low of $209.38 and a 12-month high of $289.20. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The company has a market cap of $23.07 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 1.77 and a beta of 0.89. The stock has a 50-day moving average price of $274.97 and a 200-day moving average price of $255.57.

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

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, November 26th. Labcorp’s dividend payout ratio is currently 31.79%.

Insider Transactions at Labcorp

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction dated 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 directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 of the company’s stock, valued at $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,046 shares of company stock worth $4,074,692. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LH. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. UBS Group lifted their target price on Labcorp from $282.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Barclays boosted their price target on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a report on Monday, August 25th. Finally, HSBC cut shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price on the stock. in a research note on Thursday, July 10th. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.00.

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.