Evercore ISI Forecasts Strong Price Appreciation for Labcorp (NYSE:LH) Stock

Labcorp (NYSE:LH - Get Free Report) had its price objective raised by research analysts at Evercore ISI from $260.00 to $285.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the medical research company's stock. Evercore ISI's price objective suggests a potential upside of 10.01% from the stock's current price.

LH has been the topic of a number of other research reports. Robert W. Baird upped their price objective on Labcorp from $253.00 to $267.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 30th. Redburn Atlantic began coverage on Labcorp in a research note on Wednesday, April 2nd. They set a "buy" rating and a $276.00 price objective on the stock. Wall Street Zen cut Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Morgan Stanley upped their price objective on Labcorp from $270.00 to $283.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Finally, Barclays reiterated a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and a consensus target price of $277.75.

Labcorp Trading Up 0.5%

NYSE:LH opened at $259.07 on Wednesday. Labcorp has a fifty-two week low of $198.96 and a fifty-two week high of $265.72. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The stock has a market capitalization of $21.68 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.63 and a beta of 0.82. The business's 50-day simple moving average is $253.01 and its 200-day simple moving average is $242.66.

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

Insider Transactions at Labcorp

In related news, CAO Peter J. Wilkinson sold 829 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $242.26, for a total value of $200,833.54. Following the sale, the chief accounting officer directly owned 2,054 shares of the company's stock, valued at $497,602.04. This trade represents a 28.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total value of $132,500.00. Following the completion of the transaction, the director owned 12,166 shares of the company's stock, valued at $3,223,990. This represents a 3.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,834 shares of company stock worth $2,928,714. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Labcorp

Several large investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB raised its position in Labcorp by 10.2% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 433 shares of the medical research company's stock valued at $114,000 after purchasing an additional 40 shares during the last quarter. Everpar Advisors LLC raised its position in shares of Labcorp by 12.9% during the second quarter. Everpar Advisors LLC now owns 1,207 shares of the medical research company's stock worth $317,000 after acquiring an additional 138 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Labcorp by 15.3% during the second quarter. Parallel Advisors LLC now owns 3,419 shares of the medical research company's stock worth $898,000 after acquiring an additional 453 shares during the last quarter. Fox Hill Wealth Management bought a new position in shares of Labcorp during the second quarter worth about $208,000. Finally, Somerset Trust Co bought a new position in shares of Labcorp during the second quarter worth about $211,000. 95.94% of the stock is currently owned by institutional investors.

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.

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