Nordea Investment Management AB Has $432.37 Million Stake in Labcorp Holdings Inc. $LH

Nordea Investment Management AB reduced its stake in Labcorp Holdings Inc. (NYSE:LH) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,520,932 shares of the medical research company’s stock after selling 308,107 shares during the quarter. Nordea Investment Management AB’s holdings in Labcorp were worth $432,371,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harbor Asset Planning Inc. bought a new position in shares of Labcorp in the second quarter valued at approximately $25,000. Caldwell Trust Co acquired a new position in Labcorp in the 2nd quarter valued at $25,000. Financial Gravity Companies Inc. acquired a new position in Labcorp in the 2nd quarter valued at $26,000. Motco bought a new position in Labcorp in the 3rd quarter worth $32,000. Finally, Headlands Technologies LLC lifted its position in Labcorp by 300.0% during the 2nd quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock worth $34,000 after acquiring an additional 96 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Insider Buying and Selling at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction on Tuesday, November 11th. The stock was 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. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richelle P. Parham sold 7,009 shares of the business’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 owned 2,469 shares in the company, valued at $627,817.32. This represents a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.84% of the company’s stock.

Labcorp Price Performance

NYSE:LH opened at $250.26 on Tuesday. The company has a market capitalization of $20.75 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.59 and a beta of 1.00. The company has a 50-day moving average of $258.95 and a 200-day moving average of $265.90. 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 released its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same period in the previous year, the business earned $3.50 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities research analysts anticipate that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on LH shares. Robert W. Baird set a $304.00 target price on Labcorp in a report on Wednesday, October 29th. UBS Group lowered their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Weiss Ratings cut shares of Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Truist Financial set a $320.00 price objective on shares of Labcorp in a research report on Tuesday, October 14th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $299.08.

About Labcorp

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.