Analysts Set Labcorp Holdings Inc. (NYSE:LH) Price Target at $299.08

Labcorp Holdings Inc. (NYSE:LH) has been assigned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, 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 issued ratings on the stock in the last year is $299.0769.

A number of analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 2nd. Robert W. Baird set a $304.00 target price on shares of Labcorp in a research report on Wednesday, October 29th. Evercore ISI raised their price target on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings lowered Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday. Finally, Mizuho increased their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th.

Insiders Place Their Bets

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were 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 in the company, valued at $627,817.32. This trade represents a 73.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by corporate insiders.

Institutional Trading of Labcorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new stake in Labcorp during the fourth quarter valued at approximately $991,000. Jump Financial LLC acquired a new position in shares of Labcorp in the 1st quarter worth approximately $610,000. BNP Paribas Financial Markets lifted its position in shares of Labcorp by 27.1% during the 1st quarter. BNP Paribas Financial Markets now owns 217,992 shares of the medical research company’s stock worth $50,735,000 after buying an additional 46,513 shares during the period. Vident Advisory LLC boosted its stake in Labcorp by 50.4% in the 1st quarter. Vident Advisory LLC now owns 2,221 shares of the medical research company’s stock valued at $517,000 after buying an additional 744 shares in the last quarter. Finally, Quarry LP acquired a new stake in Labcorp in the 1st quarter valued at $528,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Stock Performance

Shares of NYSE LH opened at $250.87 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 24.64, a P/E/G ratio of 1.70 and a beta of 1.00. The business’s 50-day simple moving average is $260.02 and its 200-day simple moving average is $266.18. Labcorp has a 52 week low of $209.38 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last posted its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the company earned $3.50 EPS. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities research analysts expect that Labcorp will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

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

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.