Labcorp Holdings Inc. (NYSE:LH) Stock Has Average Target Price of $337.73 According to Analysts

Labcorp Holdings Inc. (NYSE:LH) has been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $337.73.

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Labcorp from $350.00 to $365.00 and gave the stock a “buy” rating in a report on Monday, September 21st. Robert W. Baird set a $352.00 price objective on Labcorp in a report on Friday, July 31st. Mizuho set a $355.00 price objective on Labcorp in a research report on Monday, August 10th. JPMorgan Chase & Co. upped their price objective on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $306.00 target price on shares of Labcorp in a research note on Friday, July 31st.

Insider Buying and Selling

In other Labcorp news, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 4,669 shares of the firm’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 directly owned 102,565 shares in the company, valued at approximately $32,858,749.05. This trade represents a 4.35% 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. Insiders have sold 8,593 shares of company stock valued at $2,733,295 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Labcorp

A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Labcorp by 103.1% in the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Boston Partners purchased a new position in shares of Labcorp during the 4th quarter valued at about $480,271,000. Norges Bank purchased a new position in shares of Labcorp during the 4th quarter valued at about $248,006,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of Labcorp in the 2nd quarter valued at about $168,222,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Labcorp in the 2nd quarter valued at about $142,125,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Up 1.3%

NYSE LH opened at $308.57 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69. Labcorp has a 52 week low of $244.52 and a 52 week high of $341.80. The firm has a market capitalization of $25.02 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 1.75 and a beta of 0.87. The company has a fifty day moving average of $320.00 and a two-hundred day moving average of $285.67.

Labcorp (NYSE:LH) last announced its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.21. The business had revenue of $3.73 billion for 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%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, analysts predict that Labcorp will post 18.32 earnings per share for the current year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a $0.72 dividend. The ex-dividend date was Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. Labcorp’s dividend payout ratio is presently 23.82%.

About Labcorp

Labcorp (NYSE:LH), formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women’s health, infectious diseases, genetics and genomics.