3,370 Shares in Labcorp Holdings Inc. $LH Bought by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

by · The Cerbat Gem

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Labcorp Holdings Inc. (NYSE:LH – Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,370 shares of the medical research company’s stock, valued at approximately $957,000.

A number of other large investors also recently modified their holdings of LH. Norges Bank acquired a new stake in shares of Labcorp in the second quarter valued at about $263,070,000. Lazard Asset Management LLC grew its stake in Labcorp by 224.1% in the second quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after purchasing an additional 684,153 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Labcorp by 28.2% during the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after purchasing an additional 401,808 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Labcorp by 4,070.6% during the 3rd quarter. Pacer Advisors Inc. now owns 305,746 shares of the medical research company’s stock worth $87,767,000 after purchasing an additional 298,415 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Labcorp by 402.7% during the 2nd quarter. Marshall Wace LLP now owns 348,096 shares of the medical research company’s stock worth $91,379,000 after purchasing an additional 278,855 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Stock Performance

Shares of LH stock opened at $250.26 on Tuesday. Labcorp Holdings Inc. has a 52 week low of $209.38 and a 52 week high of $293.72. 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 simple moving average of $258.95 and a 200 day simple moving average of $265.90. 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 – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same period last year, the business posted $3.50 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, sell-side analysts predict that Labcorp Holdings Inc. will post 16.01 earnings per share for the current year.

Wall Street Analyst Weigh In

LH has been the subject of several analyst reports. UBS Group decreased their target price on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Truist Financial set a $320.00 price objective on shares of Labcorp in a research report on Tuesday, October 14th. Wall Street Zen cut shares of Labcorp from a “buy” rating to a “hold” rating in a report on Saturday. Mizuho raised their target price on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Finally, Weiss Ratings downgraded Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, December 29th. Ten analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Read Our Latest Research Report on LH

Insider Activity at Labcorp

In other news, CEO Adam H. Schechter sold 5,745 shares of Labcorp 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 of the company’s stock, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $627,817.32. The trade was a 73.95% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Labcorp Profile

(Free Report)

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.

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