Labcorp Holdings Inc. (NYSE:LH) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Labcorp Holdings Inc. has received an average rating of "Moderate Buy" from 14 research firms, with 10 analysts recommending to buy and 4 suggesting a hold.
• The company's stock price target has been raised by UBS Group from $282.00 to $305.00, indicating strong analyst confidence in Labcorp's prospects.
• Labcorp has announced a quarterly dividend of $0.72 per share, with the payment scheduled for December 11th, reflecting a 1.0% dividend yield.

Shares of Labcorp Holdings Inc. (NYSE:LH - Get Free Report) have been assigned an average rating of "Moderate Buy" from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $292.8333.

LH has been the subject of a number of research analyst reports. Barclays lifted their price target on Labcorp from $275.00 to $290.00 and gave the company an "equal weight" rating in a research report on Thursday, October 2nd. Wall Street Zen upgraded shares of Labcorp from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. UBS Group raised their price objective on shares of Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Labcorp in a report on Wednesday, October 8th.

Insider Transactions at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 3,903 shares of Labcorp stock in a transaction that occurred on Wednesday, August 13th. The shares were 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business'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 completion of the sale, the director owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Labcorp

Several hedge funds have recently added to or reduced their stakes in the business. Harbor Asset Planning Inc. bought a new position in shares of Labcorp during the second quarter valued at about $25,000. Caldwell Trust Co purchased a new stake in Labcorp during the 2nd quarter valued at about $25,000. Golden State Wealth Management LLC boosted its holdings in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after acquiring an additional 52 shares during the period. Financial Gravity Companies Inc. bought a new position in Labcorp during the 2nd quarter worth approximately $26,000. Finally, North Capital Inc. purchased a new position in Labcorp in the 1st quarter worth approximately $27,000. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Up 1.0%

Shares of NYSE:LH opened at $282.53 on Thursday. The firm has a fifty day moving average price of $276.32 and a two-hundred day moving average price of $256.87. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 1.79 and a beta of 0.89. 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 has a one year low of $209.38 and a one year high of $289.20.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp's dividend payout ratio is 31.79%.

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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