Labcorp (NYSE:LH) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial raised Labcorp’s price target to $365 from $350 and maintained a “buy” rating, implying 13.95% upside from the stock’s $320.32 opening price.
• Analyst sentiment is generally positive: nine analysts rate Labcorp a Buy and three rate it Hold, resulting in a “Moderate Buy” consensus and an average price target of $337.73.
• Labcorp’s latest quarterly results exceeded expectations, with EPS of $4.99 versus the $4.78 consensus and revenue of $3.73 billion, up 5.8% year over year; institutional investors own 95.94% of the company.

Labcorp (NYSE:LH - Get Free Report) had its target price upped by Truist Financial from $350.00 to $365.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the medical research company's stock. Truist Financial's price target indicates a potential upside of 13.95% from the company's current price.

A number of other research analysts have also recently commented on LH. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $306.00 target price on shares of Labcorp in a report on Friday, July 31st. Barclays raised their target price on Labcorp from $320.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Friday, September 11th. Mizuho set a $355.00 price target on Labcorp in a research note on Monday, August 10th. Finally, UBS Group upped their price target on Labcorp from $361.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, September 11th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $337.73.

Labcorp Stock Down 0.1%

LH opened at $320.32 on Monday. The company has a market capitalization of $25.98 billion, a P/E ratio of 26.49, a P/E/G ratio of 1.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The firm's fifty day moving average price is $314.52 and its two-hundred day moving average price is $283.14. Labcorp has a fifty-two week low of $244.52 and a fifty-two week high of $341.80.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.71 billion. During the same quarter in the prior year, the company posted $4.35 EPS. The business's revenue was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, analysts anticipate that Labcorp will post 18.32 EPS for the current year.

Insider Buying and Selling at Labcorp

In other Labcorp news, Director Kerrii B. Anderson sold 3,000 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the transaction, the director owned 6,563 shares of the company's stock, valued at approximately $2,087,165.26. The trade was a 31.37% 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 hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of the stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. The trade was a 3.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 8,919 shares of company stock worth $2,826,593 over the last 90 days. Company insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in shares of Labcorp by 106.5% during the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company's stock worth $15,470,000 after purchasing an additional 29,899 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Labcorp by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company's stock valued at $534,023,000 after purchasing an additional 13,775 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Labcorp by 61.3% in the fourth quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company's stock valued at $5,011,000 after purchasing an additional 7,592 shares in the last quarter. Victory Capital Management Inc. raised its position in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Labcorp by 12.4% in the 2nd quarter. Tidal Investments LLC now owns 30,559 shares of the medical research company's stock worth $8,557,000 after purchasing an additional 3,372 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.

About Labcorp

Labcorp NYSE: LH, formerly Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing and related services to physicians, hospitals, health systems, employers, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including molecular, genetic, oncology, women's health, infectious disease and pathology services.

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