Labcorp Holdings Inc. (NYSE:LH) Receives $330.00 Average PT from Analysts

Labcorp Holdings Inc. (NYSE:LH) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $330.00.

A number of brokerages recently commented on LH. Truist Financial raised their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Mizuho set a $355.00 target price on shares of Labcorp in a research note on Monday. JPMorgan Chase & Co. increased their price objective on Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Morgan Stanley lifted their target price on Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Barclays boosted their target price on Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th.

Labcorp Stock Performance

Shares of NYSE:LH opened at $318.02 on Wednesday. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 26.30, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The business’s fifty day moving average price is $286.24 and its two-hundred day moving average price is $274.67. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. Labcorp has a fifty-two week low of $244.52 and a fifty-two week high of $325.58.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, analysts predict that Labcorp will post 18.32 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s dividend payout ratio is 23.82%.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 4,669 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total transaction of $1,495,807.53. Following the transaction, the chief executive officer owned 102,565 shares of the company’s stock, valued at $32,858,749.05. The trade was a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total value of $201,084.18. Following the sale, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,681 shares of company stock valued at $2,073,617 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Several institutional investors and hedge funds have recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Labcorp during the 3rd quarter valued at $28,000. Hilton Head Capital Partners LLC acquired a new position in shares of Labcorp in the 4th quarter valued at approximately $27,000. Eagle Bay Advisors LLC bought a new stake in shares of Labcorp during the 4th quarter worth approximately $29,000. DV Equities LLC bought a new stake in shares of Labcorp during the 4th quarter worth approximately $29,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Labcorp during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 95.94% of the company’s stock.

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.