Labcorp Holdings Inc. (NYSE:LH) Receives $290.33 Average PT from Analysts

Key Points

• Labcorp Holdings Inc. has received an average recommendation of "Moderate Buy" from thirteen analysts, with nine rating it as buy, three as hold, and one as sell.
• The company's stock has a current average target price of $290.33, and it recently reported a quarterly EPS of $4.35, exceeding analysts' expectations.
• Labcorp declared a quarterly dividend of $0.72, resulting in an annualized dividend of $2.88 with a yield of 1.0%.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirteen brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $290.3333.

A number of brokerages recently weighed in on LH. Evercore ISI boosted their price target on shares of Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Barclays reissued a "cautious" rating on shares of Labcorp in a report on Wednesday, June 25th. HSBC lowered Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price on the stock. in a report on Thursday, July 10th. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research report on Monday, August 25th. Finally, Morgan Stanley lifted their price objective on Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th.

Labcorp Stock Up 0.7%

Shares of Labcorp stock traded up $1.86 during trading on Friday, hitting $279.13. 516,656 shares of the stock were exchanged, compared to its average volume of 689,416. The firm's 50-day moving average price is $267.90 and its 200 day moving average price is $251.89. The stock has a market cap of $23.20 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 1.77 and a beta of 0.85. Labcorp has a 12-month low of $209.38 and a 12-month high of $283.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.21. The firm had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm's revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.94 earnings per share. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, analysts forecast that Labcorp will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were issued a dividend of $0.72 per share. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 annualized dividend and a yield of 1.0%. Labcorp's payout ratio is currently 31.79%.

Insider Transactions at Labcorp

In other Labcorp news, 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 completion of the transaction, the chief executive officer owned 93,319 shares in the company, valued at approximately $24,895,642.82. The trade was a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,546 shares of company stock worth $4,207,192. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Labcorp

A number of large investors have recently bought and sold shares of the stock. Harbor Asset Planning Inc. acquired a new position in shares of Labcorp in the second quarter worth $25,000. Caldwell Trust Co purchased a new stake in Labcorp during the 2nd quarter worth about $25,000. Financial Gravity Companies Inc. purchased a new position in Labcorp in the 2nd quarter valued at about $26,000. Golden State Wealth Management LLC boosted its stake in shares of Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock worth $26,000 after purchasing an additional 52 shares during the last quarter. Finally, North Capital Inc. purchased a new stake in shares of Labcorp during the first quarter worth about $27,000. 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.