Labcorp (NYSE:LH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Labcorp (NYSE:LH) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Other equities research analysts also recently issued research reports about the company. Mizuho raised their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Barclays upped their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Truist Financial set a $320.00 price target on Labcorp in a research note on Tuesday, October 14th. Evercore ISI boosted their price target on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a report on Friday, October 3rd. Finally, UBS Group dropped their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, October 29th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and an average target price of $299.08.

Labcorp Trading Up 1.3%

LH opened at $255.19 on Friday. The company has a market cap of $21.16 billion, a P/E ratio of 25.07, a PEG ratio of 1.71 and a beta of 0.99. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $265.02 and its 200-day moving average is $266.60. Labcorp has a 1-year low of $209.38 and a 1-year high of $293.72.

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

Labcorp Dividend Announcement

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

Insider Buying and Selling

In other Labcorp news, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the completion of the transaction, the director owned 2,469 shares in the company, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the completion of the transaction, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. This trade represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LH. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Labcorp by 7.7% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock worth $41,537,000 after purchasing an additional 11,262 shares during the period. Franklin Resources Inc. increased its stake in Labcorp by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after purchasing an additional 1,043 shares in the last quarter. Aberdeen Group plc raised its holdings in Labcorp by 5.1% during the second quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock worth $19,589,000 after buying an additional 3,599 shares during the last quarter. Choreo LLC raised its holdings in Labcorp by 83.8% during the second quarter. Choreo LLC now owns 5,546 shares of the medical research company’s stock worth $1,456,000 after buying an additional 2,529 shares during the last quarter. Finally, Equitable Trust Co. lifted its stake in shares of Labcorp by 3.5% in the second quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock valued at $20,325,000 after buying an additional 2,644 shares in the last quarter. 95.94% of the stock is owned by institutional investors.

Labcorp Company Profile

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.