Labcorp Holdings Inc. (NYSE:LH) Stock Has Average Price Target of $337.73 According to Brokerages

Key Points

• Analysts maintain a moderately bullish view of Labcorp, with nine buy ratings and three holds among 12 analysts, and an average 12-month price target of $337.73 versus the reported share price of $308.30.
• Labcorp exceeded quarterly expectations, reporting $4.99 in EPS versus the $4.78 consensus and $3.73 billion in revenue, up 5.8% year over year. Analysts project $18.32 in EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.72 per share, equivalent to a 0.9% annualized yield, while insiders sold 8,593 shares worth approximately $2.7 million during the last quarter.

Shares of Labcorp Holdings Inc. (NYSE:LH - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve analysts that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $337.73.

A number of equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $306.00 price target on shares of Labcorp in a research note on Friday, July 31st. Mizuho set a $355.00 price objective on shares of Labcorp in a report on Monday, August 10th. Piper Sandler lifted their target price on shares of Labcorp from $300.00 to $309.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Truist Financial boosted their target price on shares of Labcorp from $350.00 to $365.00 and gave the stock a "buy" rating in a research note on Monday, September 21st. Finally, Weiss Ratings upgraded shares of Labcorp from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, July 24th.

Labcorp Stock Down 0.2%

Shares of LH opened at $308.30 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. Labcorp has a 12 month low of $244.52 and a 12 month high of $341.80. The stock's 50 day moving average is $319.49 and its two-hundred day moving average is $285.22. The firm has a market cap of $25.00 billion, a P/E ratio of 25.50, a PEG ratio of 1.75 and a beta of 0.88.

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

Labcorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. Labcorp's dividend payout ratio is presently 23.82%.

Insider Buying and Selling at Labcorp

In related news, CEO Adam H. Schechter sold 4,669 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the transaction, the chief executive officer directly owned 102,565 shares of the company's stock, valued at approximately $32,858,749.05. This represents a 4.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy B. Summy sold 924 shares of the firm's stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the completion of the transaction, the executive vice president owned 6,956 shares in the company, valued at $2,133,683.44. The trade was a 11.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 8,593 shares of company stock valued at $2,733,295 over the last quarter. 0.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Labcorp

Hedge funds have recently modified their holdings of the business. QRG Capital Management Inc. lifted its stake in shares of Labcorp by 12.2% in the second quarter. QRG Capital Management Inc. now owns 3,626 shares of the medical research company's stock worth $1,015,000 after buying an additional 393 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Labcorp by 5.5% in the second quarter. Sequoia Financial Advisors LLC now owns 127,231 shares of the medical research company's stock valued at $35,625,000 after purchasing an additional 6,595 shares in the last quarter. Tidal Investments LLC lifted its position in Labcorp by 12.4% during the second quarter. Tidal Investments LLC now owns 30,559 shares of the medical research company's stock worth $8,557,000 after buying an additional 3,372 shares in the last quarter. Capital Analysts LLC boosted its stake in Labcorp by 0.5% during the second quarter. Capital Analysts LLC now owns 15,250 shares of the medical research company's stock worth $4,270,000 after buying an additional 79 shares during the last quarter. Finally, NorthRock Partners LLC grew its holdings in Labcorp by 6.7% in the 2nd quarter. NorthRock Partners LLC now owns 2,099 shares of the medical research company's stock valued at $588,000 after buying an additional 132 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

About Labcorp

Labcorp NYSE: LH, formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women's health, infectious diseases, genetics and genomics.

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