Labcorp Holdings Inc. (NYSE:LH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Labcorp Holdings Inc. (NYSE:LH) have been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $290.3333.

A number of research firms recently weighed in on LH. Morgan Stanley upped their target price on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Evercore ISI upped their price target on shares of Labcorp from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, July 25th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Finally, HSBC lowered 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.

Labcorp Stock Up 1.7%

Shares of LH opened at $280.87 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The stock has a market cap of $23.34 billion, a price-to-earnings ratio of 31.00, a P/E/G ratio of 1.79 and a beta of 0.85. The company has a 50-day moving average price of $271.17 and a two-hundred day moving average price of $253.08. Labcorp has a 12 month low of $209.38 and a 12 month high of $283.47.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating the consensus estimate of $4.14 by $0.21. The business had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts predict that Labcorp will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, August 28th. Labcorp’s payout ratio is currently 31.79%.

Insiders Place Their Bets

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total value of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares in the company, valued at $617,209.08. This trade represents a 63.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kerrii B. Anderson sold 3,500 shares of the business’s stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the sale, the director owned 8,666 shares of the company’s stock, valued at approximately $2,426,480. This represents a 28.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,546 shares of company stock valued at $4,207,192 in the last 90 days. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Labcorp in the 2nd quarter worth approximately $263,070,000. GAMMA Investing LLC increased its stake in shares of Labcorp by 37,334.2% in the first quarter. GAMMA Investing LLC now owns 809,702 shares of the medical research company’s stock worth $188,450,000 after purchasing an additional 807,539 shares in the last quarter. Lazard Asset Management LLC lifted its position in Labcorp by 224.1% during the second quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after purchasing an additional 684,153 shares during the last quarter. Select Equity Group L.P. lifted its holdings in Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock valued at $516,696,000 after buying an additional 624,099 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after purchasing an additional 401,808 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

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.