Labcorp Holdings Inc. (NYSE:LH) Receives $330.00 Consensus PT from Brokerages

Labcorp Holdings Inc. (NYSE:LH) has earned an average rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $330.00.

Several research firms recently commented on LH. Barclays boosted their price target on Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $306.00 target price on shares of Labcorp in a research note on Friday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Bank of America lifted their price target on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Truist Financial upped their target price on shares of Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 31st.

Insiders Place Their Bets

In other news, Director Kerrii Anderson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the completion of the sale, the director directly owned 6,563 shares in the company, valued at approximately $2,087,165.26. The trade was a 31.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn Kyle sold 92 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the transaction, the executive vice president owned 3,904 shares in the company, valued at $1,117,285.76. This trade represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 8,919 shares of company stock worth $2,826,593. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. REAP Financial Group LLC grew its position in shares of Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after acquiring an additional 37 shares during the last quarter. V Square Quantitative Management LLC lifted its position in Labcorp by 1.7% in the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock valued at $645,000 after purchasing an additional 40 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Labcorp by 2.6% in the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock valued at $409,000 after purchasing an additional 41 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in Labcorp by 3.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 42 shares during the period. Finally, Larson Financial Group LLC grew its position in Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock worth $44,000 after purchasing an additional 42 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Stock Performance

Shares of NYSE:LH opened at $324.95 on Friday. 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 12 month low of $244.52 and a 12 month high of $341.80. The firm has a market capitalization of $26.35 billion, a PE ratio of 26.88, a P/E/G ratio of 1.85 and a beta of 0.88. The business has a 50-day moving average of $308.74 and a two-hundred day moving average of $281.29.

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

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 23.82%.

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.