Labcorp Holdings Inc. $LH Shares Newly Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC acquired a new stake in Labcorp Holdings Inc. (NYSE:LH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,757 shares of the medical research company’s stock, valued at approximately $541,000.

A number of other institutional investors have also modified their holdings of the company. Allied Private Wealth LLC purchased a new position in shares of Labcorp during the second quarter valued at approximately $33,000. Cedar Mountain Advisors LLC boosted its position in Labcorp by 786.7% during the first quarter. Cedar Mountain Advisors LLC now owns 133 shares of the medical research company’s stock worth $35,000 after acquiring an additional 118 shares during the last quarter. William Mack & Associates Inc. purchased a new stake in Labcorp in the 3rd quarter worth approximately $42,000. Jones Financial Companies Lllp purchased a new stake in Labcorp in the 2nd quarter worth approximately $58,000. Finally, Ancora Advisors LLC purchased a new stake in Labcorp in the 2nd quarter worth approximately $67,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Insider Activity at Labcorp

In other news, EVP Bryan T. Vaughn sold 306 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $353.70, for a total transaction of $108,232.20. Following the completion of the sale, the executive vice president directly owned 6,845 shares of the company’s stock, valued at $2,421,076.50. The trade was a 4.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kerrii B. Anderson sold 3,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $318.02, for a total transaction of $954,060.00. Following the sale, the director directly owned 6,563 shares of the company’s stock, valued at $2,087,165.26. This represents a 31.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 9,053 shares of company stock worth $2,947,495. Company insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

LH has been the subject of several analyst reports. Leerink Partners set a $410.00 price target on Labcorp in a report on Wednesday, October 28th. Morgan Stanley restated an “overweight” rating and set a $388.00 price objective on shares of Labcorp in a report on Thursday, October 29th. JPMorgan Chase & Co. raised their price objective on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $355.00 price objective on shares of Labcorp in a research report on Thursday, October 29th. Finally, Truist Financial upped their target price on Labcorp from $365.00 to $395.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Labcorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $369.08.

Labcorp Trading Down 1.3%

NYSE LH opened at $362.93 on Friday. The company has a market cap of $29.47 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.08 and a beta of 0.86. Labcorp Holdings Inc. has a 12 month low of $244.52 and a 12 month high of $373.34. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.41 and a quick ratio of 1.22. The company has a 50-day moving average of $325.05 and a 200-day moving average of $289.53.

Labcorp (NYSE:LH) last released its earnings results on Wednesday, October 28th. The medical research company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.64 by $0.14. Labcorp had a net margin of 6.88% and a return on equity of 17.13%. The business had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.76 billion. During the same period last year, the company earned $4.18 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, equities analysts predict that Labcorp Holdings Inc. will post 18.51 earnings per share for the current year.

Labcorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Tuesday, November 24th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Tuesday, November 24th. This represents a $2.88 annualized dividend and a yield of 0.8%. Labcorp’s dividend payout ratio is 23.63%.

More Labcorp News

Here are the key news stories impacting Labcorp this week:

• Positive Sentiment: HSBC upgraded Labcorp from “hold” to “buy” and set a $410 price target, implying about 13% upside from the cited share price. HSBC analyst rating
• Positive Sentiment: Mizuho raised its price target to $400 from $355, adding to the constructive analyst outlook. Mizuho price target update
• Positive Sentiment: Zacks highlighted LH as a top-ranked momentum stock, which may attract investors focused on price trends; the article is promotional research content, not a guarantee of future performance. Zacks momentum-stock article
• Positive Sentiment: Labcorp completed its acquisition of Millennium Health, expanding its business; the provided report does not detail the expected financial contribution. Millennium Health acquisition completion
• Neutral Sentiment: CFO Julia Wang is scheduled to speak at the UBS Global Healthcare Conference on November 10; no new financial guidance was reported. Conference announcement
• Negative Sentiment: EVP Bryan Vaughn sold 306 shares, while director Richelle Parham sold 1,078 shares. Vaughn’s sale was under a pre-arranged Rule 10b5-1 plan; insider sales can create some near-term concern but do not necessarily signal a change in outlook. Insider transaction report

Labcorp Profile

Labcorp (NYSE: LH), formally Laboratory Corporation of America Holdings, is a global life sciences and healthcare company headquartered in Burlington, North Carolina. The company provides laboratory testing and diagnostic services to physicians, hospitals, health systems, employers, insurers and consumers.

Through its diagnostics operations, Labcorp offers routine and specialty testing, oncology diagnostics, women’s health testing, genetic testing, pathology services and other laboratory services.