Brokerages Set Labcorp Holdings Inc. (NYSE:LH) PT at $299.08

Shares of Labcorp Holdings Inc. (NYSE:LH) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $299.0769.

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. raised their target price on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings lowered Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. Barclays increased their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, Robert W. Baird set a $304.00 price target on shares of Labcorp in a report on Wednesday, October 29th.

Insider Buying and Selling

In other 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 value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Labcorp

Several hedge funds have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp in the 2nd quarter valued at about $25,000. Caldwell Trust Co acquired a new position in Labcorp during the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp in the second quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the third quarter worth $28,000. Finally, Motco acquired a new stake in Labcorp in the third quarter worth $32,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Price Performance

NYSE:LH opened at $253.08 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The business’s 50-day moving average price is $259.01 and its 200 day moving average price is $266.12. Labcorp has a 52-week low of $209.38 and a 52-week high of $293.72. The firm has a market cap of $20.98 billion, a P/E ratio of 24.86, a PEG ratio of 1.58 and a beta of 1.00.

Labcorp (NYSE:LH) last announced 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. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts predict that Labcorp will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, November 26th. Labcorp’s payout ratio is currently 28.29%.

Labcorp Company Profile

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.