Sivik Global Healthcare LLC Buys Shares of 10,000 Labcorp Holdings Inc. $LH

Sivik Global Healthcare LLC purchased a new position in shares of Labcorp Holdings Inc. (NYSE:LH) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 10,000 shares of the medical research company’s stock, valued at approximately $2,871,000.

Several other institutional investors have also made changes to their positions in the company. Absher Wealth Management LLC bought a new position in Labcorp during the third quarter valued at approximately $201,000. Kathmere Capital Management LLC bought a new position in shares of Labcorp during the 3rd quarter valued at $207,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Labcorp by 12.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 6,435 shares of the medical research company’s stock valued at $1,847,000 after purchasing an additional 696 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of Labcorp by 8.3% in the 3rd quarter. D.A. Davidson & CO. now owns 14,461 shares of the medical research company’s stock valued at $4,151,000 after purchasing an additional 1,103 shares during the last quarter. Finally, Motco bought a new stake in Labcorp in the third quarter worth $32,000. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Price Performance

NYSE LH opened at $260.33 on Wednesday. The stock has a 50-day simple moving average of $259.01 and a 200 day simple moving average of $266.11. Labcorp Holdings Inc. has a twelve month low of $209.38 and a twelve month high of $293.72. The stock has a market capitalization of $21.58 billion, a PE ratio of 25.57, a P/E/G ratio of 1.60 and a beta of 1.00. 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 issued its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping the consensus estimate 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 posted $3.50 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Research analysts anticipate that Labcorp Holdings Inc. will post 16.01 EPS for the current year.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the 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 sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Adam H. Schechter sold 5,745 shares of the firm’s 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 sale, the chief executive officer 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 disclosure for this sale is available in the SEC filing. 0.84% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on LH. Truist Financial set a $320.00 target price on Labcorp in a report on Tuesday, October 14th. Weiss Ratings lowered Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. UBS Group lowered their price target on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Finally, Barclays increased their price target on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a report on Thursday, October 2nd. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.