Labcorp (NYSE:LH) Given New $317.00 Price Target at JPMorgan Chase & Co.

Labcorp (NYSE:LH) had its target price raised by JPMorgan Chase & Co. from $291.00 to $317.00 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the medical research company’s stock.

A number of other research firms have also commented on LH. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Robert W. Baird set a $304.00 target price on shares of Labcorp in a research note on Wednesday, October 29th. HSBC downgraded shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a report on Thursday, July 10th. Evercore ISI upped their price objective on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and an average price target of $297.07.

Labcorp Stock Up 2.4%

Shares of LH traded up $5.99 on Friday, reaching $252.63. The company’s stock had a trading volume of 1,189,135 shares, compared to its average volume of 700,915. Labcorp has a twelve month low of $209.38 and a twelve month high of $293.72. The stock has a market capitalization of $20.94 billion, a PE ratio of 24.82, a PEG ratio of 1.59 and a beta of 0.91. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average of $274.29 and a 200-day moving average of $262.15.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The company’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Equities analysts predict that Labcorp will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is presently 28.29%.

Insider Buying and Selling

In related news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total value of $1,505,439.54. Following the transaction, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 16,555 shares of company stock valued at $4,347,040. 0.84% of the stock is owned by company insiders.

Institutional Trading of Labcorp

A number of institutional investors have recently added to or reduced their stakes in LH. Harbor Asset Planning Inc. purchased a new position in Labcorp during the 2nd quarter valued at about $25,000. Caldwell Trust Co purchased a new position in Labcorp during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp during the 2nd quarter worth approximately $26,000. Motco purchased a new stake in Labcorp in the 3rd quarter worth approximately $32,000. Finally, TruNorth Capital Management LLC bought a new position in Labcorp in the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.