Texas Permanent School Fund Corp Sells 3,010 Shares of Labcorp Holdings Inc. $LH

Texas Permanent School Fund Corp cut its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 34.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,845 shares of the medical research company’s stock after selling 3,010 shares during the period. Texas Permanent School Fund Corp’s holdings in Labcorp were worth $1,534,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of LH. Vanguard Group Inc. boosted its position in Labcorp by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 9,879,225 shares of the medical research company’s stock valued at $2,593,395,000 after acquiring an additional 156,717 shares in the last quarter. State Street Corp lifted its stake in shares of Labcorp by 0.9% during the 2nd quarter. State Street Corp now owns 3,863,039 shares of the medical research company’s stock worth $1,014,086,000 after purchasing an additional 36,003 shares during the last quarter. Select Equity Group L.P. boosted its position in Labcorp by 39.1% during the first quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after purchasing an additional 624,099 shares in the last quarter. Geode Capital Management LLC grew its stake in Labcorp by 2.2% in the second quarter. Geode Capital Management LLC now owns 2,113,460 shares of the medical research company’s stock valued at $552,445,000 after purchasing an additional 44,630 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after purchasing an additional 43,509 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Price Performance

Shares of LH opened at $255.19 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. The company’s fifty day moving average price is $265.02 and its 200-day moving average price is $266.60. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72. The firm has a market capitalization of $21.16 billion, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

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

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th were given a dividend of $0.72 per share. The ex-dividend date of this dividend was 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 currently 28.29%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LH shares. Mizuho lifted their price objective on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group lowered their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Finally, Robert W. Baird set a $304.00 target price on Labcorp in a research note on Wednesday, October 29th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $299.08.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the completion of the transaction, the chief executive officer directly owned 87,574 shares in the company, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

Labcorp Company Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.