Analysts Set Labcorp Holdings Inc. (NYSE:LH) PT at $274.00

Labcorp Holdings Inc. (NYSE:LH) has been assigned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $274.00.

Several research firms recently weighed in on LH. Piper Sandler reiterated a “neutral” rating and set a $280.00 target price (up from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Citigroup upgraded Labcorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Tuesday, March 4th. Barclays lifted their target price on Labcorp from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Morgan Stanley boosted their price objective on Labcorp from $270.00 to $283.00 and gave the company an “overweight” rating in a research report on Wednesday, June 11th. Finally, Redburn Atlantic initiated coverage on Labcorp in a research report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective on the stock.

Insider Transactions at Labcorp

In other news, CEO Adam H. Schechter sold 6,105 shares of Labcorp stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now directly owns 98,962 shares of the company’s stock, valued at approximately $24,614,818.26. The trade was a 5.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Amy B. Summy sold 758 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the sale, the executive vice president now directly owns 5,302 shares in the company, valued at $1,228,314.34. The trade was a 12.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,092 shares of company stock valued at $2,971,820. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Labcorp

Large investors have recently added to or reduced their stakes in the stock. Graney & King LLC bought a new stake in Labcorp during the fourth quarter worth approximately $26,000. Golden State Wealth Management LLC boosted its position in shares of Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock valued at $26,000 after buying an additional 52 shares during the period. North Capital Inc. purchased a new position in shares of Labcorp during the first quarter valued at approximately $27,000. TruNorth Capital Management LLC purchased a new position in shares of Labcorp during the first quarter valued at approximately $28,000. Finally, Larson Financial Group LLC boosted its position in shares of Labcorp by 140.4% during the first quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after buying an additional 73 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Price Performance

NYSE LH opened at $259.36 on Friday. The company has a market capitalization of $21.71 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.67 and a beta of 0.81. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84. The business’s fifty day moving average is $242.08 and its 200 day moving average is $239.76. Labcorp has a fifty-two week low of $198.96 and a fifty-two week high of $267.53.

Labcorp (NYSE:LH) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. The company had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a return on equity of 15.27% and a net margin of 5.55%. Labcorp’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $3.68 earnings per share. Sell-side analysts predict that Labcorp will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.11%. Labcorp’s dividend payout ratio (DPR) is 33.29%.

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.