Labcorp (NYSE:LH) Price Target Raised to $317.00

Labcorp (NYSE:LH) had its target price boosted by JPMorgan Chase & Co. from $291.00 to $317.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the medical research company’s stock.

Several other analysts also recently issued reports on LH. Hsbc Global Res downgraded Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Robert W. Baird set a $304.00 price target on Labcorp in a research note on Wednesday, October 29th. HSBC lowered shares of Labcorp from a “buy” rating to a “hold” rating and set a $260.00 price objective on the stock. in a report on Thursday, July 10th. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Twelve investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $297.07.

Labcorp Price Performance

Shares of LH traded up $1.78 during trading hours on Friday, reaching $254.50. The company had a trading volume of 414,687 shares, compared to its average volume of 698,758. Labcorp has a 12-month low of $209.38 and a 12-month high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $21.10 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 1.59 and a beta of 0.91. The firm has a 50 day simple moving average of $274.29 and a 200-day simple moving average of $262.71.

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

Labcorp Announces Dividend

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

Insider Activity

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the sale, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the transaction, the director directly owned 2,469 shares in the company, valued at approximately $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LH. Vontobel Holding Ltd. grew its holdings in shares of Labcorp by 7.9% in the 2nd quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after buying an additional 225 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Labcorp by 1.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock worth $38,320,000 after acquiring an additional 1,816 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in shares of Labcorp by 12.7% during the second quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after acquiring an additional 1,507 shares during the period. Allspring Global Investments Holdings LLC increased its position in Labcorp by 2.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock worth $528,739,000 after acquiring an additional 43,509 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Labcorp by 11.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock valued at $55,154,000 after acquiring an additional 22,018 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.