Nisa Investment Advisors LLC Grows Position in Labcorp Holdings Inc. $LH

Nisa Investment Advisors LLC grew its holdings in shares of Labcorp Holdings Inc. (NYSE:LH) by 11.9% in the third quarter, Holdings Channel.com reports. The firm owned 33,752 shares of the medical research company’s stock after buying an additional 3,584 shares during the period. Nisa Investment Advisors LLC’s holdings in Labcorp were worth $9,689,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LH. SP Asset Management LLC lifted its stake in shares of Labcorp by 0.3% during the 2nd quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock valued at $3,722,000 after buying an additional 38 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in Labcorp by 4.3% during the 3rd quarter. HBK Sorce Advisory LLC now owns 916 shares of the medical research company’s stock valued at $254,000 after acquiring an additional 38 shares during the period. Pure Financial Advisors LLC lifted its position in shares of Labcorp by 3.9% during the third quarter. Pure Financial Advisors LLC now owns 1,017 shares of the medical research company’s stock worth $292,000 after acquiring an additional 38 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Labcorp by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after acquiring an additional 40 shares during the period. Finally, Highland Capital Management LLC grew its position in shares of Labcorp by 0.3% in 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 in the last quarter. Institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LH. Wall Street Zen cut Labcorp from a “buy” rating to a “hold” rating in a report on Saturday. JPMorgan Chase & Co. upped their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Barclays raised their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Evercore ISI upped their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Finally, UBS Group cut their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Ten investment analysts have rated the stock with a Buy rating and five 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 an average price target of $299.08.

Labcorp Stock Down 1.1%

LH stock opened at $251.81 on Friday. The company’s 50 day moving average is $259.11 and its 200 day moving average is $265.90. The stock has a market cap of $20.88 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 1.59 and a beta of 1.00. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. Labcorp Holdings Inc. has a 1-year low of $209.38 and a 1-year high of $293.72.

Labcorp (NYSE:LH) last announced its 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. 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%. Labcorp’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Insider Buying and Selling at Labcorp

In related news, 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 value of $1,782,248.52. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the 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 directly owned 87,574 shares in the company, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by insiders.

Labcorp 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.