Labcorp (NYSE:LH) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Labcorp has received a "Buy (B-)" rating from Weiss Ratings, along with several other ratings upgrades from analysts, increasing its price target from $282.00 to $305.00.
• The company reported earnings of $4.35 per share for the last quarter, surpassing expectations and showing a 9.6% year-over-year increase in revenue.
• Insider selling has occurred recently, with directors selling over 15,000 shares in the last 90 days, indicating a significant decrease in their holdings.

Labcorp (NYSE:LH - Get Free Report)'s stock had its "buy (b-)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also recently weighed in on LH. UBS Group upped their price target on Labcorp from $282.00 to $305.00 and gave the stock a "buy" rating in a report on Friday, July 25th. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a report on Thursday, July 10th. Morgan Stanley upped their price target on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Finally, Evercore ISI upped their price target on Labcorp from $300.00 to $305.00 and gave the stock an "outperform" rating in a report on Friday, October 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $292.00.

Labcorp Stock Performance

NYSE LH opened at $277.46 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61. The business's 50 day moving average is $274.61 and its two-hundred day moving average is $255.28. Labcorp has a 12-month low of $209.38 and a 12-month high of $289.20. The stock has a market capitalization of $23.06 billion, a price-to-earnings ratio of 30.62, a PEG ratio of 1.79 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $3.49 billion. During the same quarter in the previous year, the firm posted $3.94 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Research analysts expect that Labcorp will post 16.01 EPS for the current year.

Insider Buying and Selling

In other news, Director Kerrii B. Anderson sold 3,500 shares of Labcorp stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $280.00, for a total value of $980,000.00. Following the completion of the sale, the director owned 8,666 shares of the company's stock, valued at $2,426,480. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of Labcorp stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the sale, the director directly owned 6,656 shares of the company's stock, valued at approximately $1,763,507.20. This represents a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 15,046 shares of company stock worth $4,074,692 in the last 90 days. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On Labcorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pinnacle Wealth Management Group Inc. purchased a new stake in shares of Labcorp in the third quarter valued at $201,000. Czech National Bank grew its position in shares of Labcorp by 3.2% in the third quarter. Czech National Bank now owns 21,106 shares of the medical research company's stock valued at $6,059,000 after purchasing an additional 647 shares during the period. Salem Investment Counselors Inc. grew its position in shares of Labcorp by 0.5% in the third quarter. Salem Investment Counselors Inc. now owns 9,293 shares of the medical research company's stock valued at $2,668,000 after purchasing an additional 50 shares during the period. Heartwood Wealth Advisors LLC purchased a new position in shares of Labcorp in the 3rd quarter worth $87,000. Finally, Aaron Wealth Advisors LLC purchased a new position in shares of Labcorp in the 3rd quarter worth $350,000. Hedge funds and other institutional investors 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.

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