Labcorp Holdings Inc. (NYSE:LH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Labcorp Holdings Inc. (NYSE:LH) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $297.0714.

Several analysts have weighed in on the stock. Evercore ISI boosted their target price on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Truist Financial set a $320.00 price objective on shares of Labcorp in a report on Tuesday, October 14th. Robert W. Baird set a $304.00 target price on Labcorp in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price target on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th.

Labcorp Trading Down 0.4%

Shares of NYSE:LH opened at $266.81 on Monday. The business’s 50-day moving average is $273.33 and its 200 day moving average is $263.53. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.32. Labcorp has a 1 year low of $209.38 and a 1 year high of $293.72. The firm has a market capitalization of $22.12 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.59 and a beta of 0.91.

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

Labcorp Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction 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 transaction, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. This represents a 73.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Labcorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LH. Brighton Jones LLC purchased a new stake in shares of Labcorp during the 4th quarter worth about $991,000. Xponance Inc. raised its holdings in Labcorp by 1.6% in the 1st quarter. Xponance Inc. now owns 12,195 shares of the medical research company’s stock worth $2,838,000 after purchasing an additional 195 shares during the period. TruNorth Capital Management LLC purchased a new position in Labcorp during the first quarter worth approximately $28,000. CWM LLC grew its holdings in Labcorp by 3.4% in the first quarter. CWM LLC now owns 7,849 shares of the medical research company’s stock valued at $1,827,000 after purchasing an additional 255 shares during the period. Finally, LRI Investments LLC increased its position in shares of Labcorp by 23.6% in the first quarter. LRI Investments LLC now owns 330 shares of the medical research company’s stock valued at $77,000 after buying an additional 63 shares in the last quarter. Institutional investors and hedge funds 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.