Labcorp Holdings Inc. (NYSE:LH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Labcorp Holdings Inc. (NYSE:LH) have been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $308.00.

LH has been the topic of several recent research reports. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a report on Wednesday, April 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, February 18th. Wall Street Zen upgraded Labcorp from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Piper Sandler raised their price target on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,903 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the transaction, the chief executive officer owned 107,234 shares in the company, valued at $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Labcorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LH. Brighton Jones LLC bought a new position in Labcorp during the fourth quarter worth about $991,000. Integrated Wealth Concepts LLC boosted its holdings in Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock worth $565,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after buying an additional 121,304 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Labcorp during the second quarter worth about $5,873,000. Finally, First Trust Advisors LP boosted its holdings in Labcorp by 83.2% during the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after buying an additional 39,087 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE:LH opened at $257.27 on Friday. Labcorp has a twelve month low of $241.81 and a twelve month high of $293.72. The firm has a market cap of $21.10 billion, a PE ratio of 22.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The business has a fifty day moving average of $263.08 and a 200-day moving average of $265.78.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company posted $3.84 earnings per share. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, equities research analysts predict that Labcorp will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Friday, May 29th will be issued a $0.72 dividend. The ex-dividend date is Friday, May 29th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

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.