Lazard Asset Management LLC Has $259.73 Million Stock Position in Labcorp Holdings Inc. $LH

Lazard Asset Management LLC boosted its holdings in Labcorp Holdings Inc. (NYSE:LH) by 224.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 989,433 shares of the medical research company’s stock after purchasing an additional 684,153 shares during the period. Lazard Asset Management LLC’s holdings in Labcorp were worth $259,734,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Harbor Asset Planning Inc. bought a new position in Labcorp during the second quarter worth $25,000. Financial Gravity Companies Inc. acquired a new stake in Labcorp in the 2nd quarter worth $26,000. Creative Financial Designs Inc. ADV grew its position in Labcorp by 392.9% in the 2nd 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. REAP Financial Group LLC increased its holdings in shares of Labcorp by 193.0% during the 2nd quarter. REAP Financial Group LLC now owns 167 shares of the medical research company’s stock worth $44,000 after purchasing an additional 110 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Labcorp during the second quarter valued at about $54,000. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Down 0.2%

Shares of NYSE LH opened at $264.15 on Friday. The stock has a market cap of $21.90 billion, a PE ratio of 25.95, a PEG ratio of 1.75 and a beta of 0.99. The business has a fifty day moving average of $267.56 and a two-hundred day moving average of $266.08. 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 1.35 and a current ratio of 1.55.

Labcorp (NYSE:LH) last posted its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.05. The business had revenue of $3.56 billion for 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 firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities research analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on LH shares. Wall Street Zen downgraded Labcorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Mizuho increased their price objective on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. UBS Group decreased their target price on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, October 29th. Finally, Truist Financial set a $320.00 target price on shares of Labcorp in a research note on Tuesday, October 14th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Insider Buying and Selling

In other news, Director Richelle P. Parham sold 7,009 shares of Labcorp 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 owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.84% of the company’s stock.

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.