JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Labcorp (NYSE:LH) Stock

Labcorp (NYSE:LH) had its price target raised by investment analysts at JPMorgan Chase & Co. from $291.00 to $317.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 25.48% from the company’s previous close.

A number of other analysts also recently weighed in on LH. Morgan Stanley raised their price target on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. 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 note on Friday, October 3rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Wednesday, October 8th. Barclays raised their price target on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Finally, UBS Group lowered their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Stock Up 2.4%

Shares of NYSE LH opened at $252.63 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. Labcorp has a 1 year low of $209.38 and a 1 year high of $293.72. The stock’s 50-day simple moving average is $274.29 and its 200-day simple moving average is $262.44. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 24.82, a PEG 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 EPS for the quarter, beating 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 firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the prior year, the business posted $3.50 earnings per share. Labcorp’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities analysts anticipate that Labcorp will post 16.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the firm’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the transaction, the executive vice president directly owned 2,274 shares of the company’s stock, valued at approximately $617,209.08. This trade represents a 63.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of Labcorp stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. This represents a 5.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,555 shares of company stock valued at $4,347,040 in the last quarter. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Several large investors have recently bought and sold shares of LH. Harbor Asset Planning Inc. acquired a new stake in shares of Labcorp in the 2nd quarter worth approximately $25,000. Caldwell Trust Co bought a new stake in Labcorp during the second quarter worth approximately $25,000. Financial Gravity Companies Inc. acquired a new stake in Labcorp in the second quarter worth approximately $26,000. TruNorth Capital Management LLC acquired a new stake in Labcorp in the first quarter worth approximately $28,000. Finally, Larson Financial Group LLC boosted its stake in Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 73 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

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.