Labcorp (NYSE:LH) Price Target Raised to $320.00

Labcorp (NYSE:LH) had its target price boosted by equities researchers at Bank of America from $300.00 to $320.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America‘s target price suggests a potential upside of 14.91% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Robert W. Baird set a $334.00 price target on shares of Labcorp in a report on Friday, May 1st. Finally, Evercore restated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Nine analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $314.40.

Labcorp Stock Performance

Shares of NYSE LH traded up $1.67 during midday trading on Monday, reaching $278.48. 114,540 shares of the company traded hands, compared to its average volume of 665,259. Labcorp has a 52 week low of $241.81 and a 52 week high of $293.72. The stock has a 50-day moving average price of $264.07 and a 200 day moving average price of $267.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54. The company has a market cap of $22.84 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.94 and a beta of 0.89.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the company posted $3.84 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. Sell-side analysts anticipate that Labcorp will post 18 earnings per share for the current fiscal year.

Insider Transactions at Labcorp

In other news, EVP Kathryn W. Kyle sold 92 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the sale, the executive vice president directly owned 3,904 shares of the company’s stock, valued at $1,117,285.76. This trade represents a 2.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,991 shares of company stock valued at $1,796,696 in the last three months. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Labcorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Labcorp in the 4th quarter valued at approximately $26,000. Hilton Head Capital Partners LLC bought a new position in Labcorp during the fourth quarter valued at approximately $27,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the third quarter valued at approximately $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp in the fourth quarter valued at approximately $29,000. Finally, DV Equities LLC bought a new stake in Labcorp in the fourth quarter worth approximately $29,000. 95.94% of the stock is currently owned by hedge funds and other 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.