Labcorp (NYSE:LH) Price Target Raised to $360.00

Labcorp (NYSE:LH) had its price objective upped by JPMorgan Chase & Co. from $330.00 to $360.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

A number of other equities research analysts have also commented on the company. Barclays upped their target price on Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a research report on Thursday, July 30th. Robert W. Baird set a $352.00 price target on shares of Labcorp in a research report on Friday, July 31st. Bank of America lifted their price objective on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and an average price target of $326.82.

Labcorp Price Performance

NYSE LH opened at $314.30 on Monday. The company has a market cap of $25.77 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 1.80 and a beta of 0.87. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The stock’s fifty day moving average price is $277.86 and its 200 day moving average price is $272.21. Labcorp has a 1 year low of $244.52 and a 1 year high of $316.11.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 EPS 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 analysts’ expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, equities research analysts forecast that Labcorp will post 18.35 earnings per share for the current year.

Labcorp Dividend Announcement

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

Insider Transactions at Labcorp

In other news, EVP Bryan T. Vaughn sold 234 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $66,968.46. Following the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at $1,930,637.74. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, CEO Adam H. Schechter sold 5,903 shares of Labcorp stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This trade represents a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,991 shares of company stock valued at $1,796,696 in the last 90 days. 0.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LH. UBS Group AG boosted its stake in Labcorp by 2.2% during the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Labcorp by 106.5% in the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock valued at $15,470,000 after buying an additional 29,899 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Labcorp by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock valued at $534,023,000 after buying an additional 13,775 shares during the last quarter. CIBC Asset Management Inc lifted its stake in shares of Labcorp by 61.3% in the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock worth $5,011,000 after buying an additional 7,592 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after acquiring an additional 2,719,475 shares during the last quarter. 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.