Labcorp Holdings Inc. (NYSE:LH) Receives $292.83 Average Price Target from Analysts

Shares of Labcorp Holdings Inc. (NYSE:LH) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $296.4615.

LH has been the topic of several recent analyst reports. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. HSBC downgraded Labcorp from a “buy” rating to a “hold” rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Hsbc Global Res cut Labcorp from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 10th. UBS Group lifted their price objective on shares of Labcorp from $305.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Evercore ISI increased their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd.

Insider Transactions at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This represents a 63.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 3,500 shares of the 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 transaction, the director owned 8,666 shares in the company, valued at approximately $2,426,480. This trade represents a 28.77% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,046 shares of company stock worth $4,074,692. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On Labcorp

A number of hedge funds and other institutional investors have recently modified their holdings of the company. SP Asset Management LLC lifted its holdings in shares of Labcorp by 0.3% during the second quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock worth $3,722,000 after buying an additional 38 shares in the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Labcorp by 4.3% during the third quarter. HBK Sorce Advisory LLC now owns 916 shares of the medical research company’s stock worth $254,000 after buying an additional 38 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Labcorp by 10.2% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company’s stock worth $114,000 after buying an additional 40 shares in the last quarter. Highland Capital Management LLC lifted its holdings in shares of Labcorp by 0.3% during the second quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock worth $4,022,000 after buying an additional 40 shares in the last quarter. Finally, Zions Bancorporation National Association UT lifted its holdings in shares of Labcorp by 21.9% during the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock worth $59,000 after buying an additional 40 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp Stock Up 0.7%

NYSE:LH opened at $285.66 on Thursday. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 31.53, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. Labcorp has a twelve month low of $209.38 and a twelve month high of $289.20. The stock’s 50 day moving average price is $277.19 and its two-hundred day moving average price is $257.73. The company has a quick ratio of 1.32, a current ratio of 1.50 and a debt-to-equity ratio of 0.61.

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

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp’s dividend payout ratio (DPR) is 31.79%.

About Labcorp

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