Labcorp Holdings Inc. (NYSE:LH) Receives $276.08 Consensus Target Price from Brokerages

Labcorp Holdings Inc. (NYSE:LH - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fourteen ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $276.08.

Several equities research analysts have recently weighed in on LH shares. Piper Sandler reissued a "neutral" rating and issued a $280.00 target price (up previously from $260.00) on shares of Labcorp in a research note on Tuesday, May 6th. Barclays reissued a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Morgan Stanley increased their target price on shares of Labcorp from $270.00 to $283.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded shares of Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Finally, Redburn Atlantic started coverage on shares of Labcorp in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price on the stock.

Insiders Place Their Bets

In other news, CAO Peter J. Wilkinson sold 829 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $242.26, for a total value of $200,833.54. Following the completion of the sale, the chief accounting officer owned 2,054 shares in the company, valued at approximately $497,602.04. The trade was a 28.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kerrii B. Anderson sold 500 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $265.00, for a total transaction of $132,500.00. Following the completion of the sale, the director owned 12,166 shares of the company's stock, valued at approximately $3,223,990. This represents a 3.95% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,834 shares of company stock worth $2,928,714. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

Large investors have recently modified their holdings of the business. LPL Financial LLC grew its position in shares of Labcorp by 63.8% in the 4th quarter. LPL Financial LLC now owns 62,546 shares of the medical research company's stock worth $14,343,000 after buying an additional 24,357 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Labcorp in the 4th quarter worth approximately $48,693,000. Brighton Jones LLC purchased a new position in shares of Labcorp in the 4th quarter worth approximately $991,000. Signaturefd LLC grew its position in shares of Labcorp by 9.7% in the 4th quarter. Signaturefd LLC now owns 588 shares of the medical research company's stock worth $135,000 after buying an additional 52 shares during the last quarter. Finally, Intrust Bank NA grew its position in shares of Labcorp by 4.7% in the 4th quarter. Intrust Bank NA now owns 3,177 shares of the medical research company's stock worth $729,000 after buying an additional 144 shares during the last quarter. Institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

LH stock traded down $0.19 during trading on Tuesday, hitting $257.68. 654,647 shares of the company's stock traded hands, compared to its average volume of 641,740. Labcorp has a 52 week low of $198.96 and a 52 week high of $265.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84. The business has a fifty day simple moving average of $252.66 and a 200 day simple moving average of $242.56. The stock has a market capitalization of $21.57 billion, a price-to-earnings ratio of 29.79, a P/E/G ratio of 1.66 and a beta of 0.82.

Labcorp (NYSE:LH - Get Free Report) last released its quarterly earnings data 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. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.41 billion. During the same quarter last year, the business earned $3.68 earnings per share. Labcorp's quarterly revenue was up 5.3% compared to the same quarter last year. As a group, research analysts expect that Labcorp will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th were issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.12%. Labcorp's dividend payout ratio is currently 33.29%.

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.