Labcorp (NYSE:LH) Given New $275.00 Price Target at Barclays

Labcorp (NYSE:LH - Get Free Report) had its price target hoisted by equities research analysts at Barclays from $250.00 to $275.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the medical research company's stock. Barclays's price target indicates a potential upside of 5.97% from the company's previous close.

A number of other equities research analysts also recently issued reports on the stock. Citigroup upgraded shares of Labcorp from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Truist Financial boosted their target price on shares of Labcorp from $274.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Labcorp from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Piper Sandler restated a "neutral" rating and set a $280.00 price objective (up previously from $260.00) on shares of Labcorp in a research report on Tuesday, May 6th. Finally, Redburn Atlantic initiated coverage on Labcorp in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $276.08.

Labcorp Stock Performance

Labcorp stock traded down $3.02 during midday trading on Wednesday, hitting $259.51. The company's stock had a trading volume of 57,402 shares, compared to its average volume of 711,807. 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 company has a market cap of $21.72 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.65 and a beta of 0.81. Labcorp has a 1-year low of $198.96 and a 1-year high of $264.03. The company has a 50-day moving average price of $245.76 and a two-hundred day moving average price of $240.61.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion during 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 firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $3.68 earnings per share. As a group, sell-side analysts predict that Labcorp will post 16.01 earnings per share for the current year.

Insider Buying and Selling at Labcorp

In related news, CAO Peter J. Wilkinson sold 829 shares of the business'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 completion of the sale, the chief accounting officer now directly owns 2,054 shares of the company's stock, valued at $497,602.04. The trade was a 28.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,105 shares of the business's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer now directly owns 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,092 shares of company stock valued at $2,971,820. Corporate insiders own 0.84% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC grew its stake in Labcorp by 88.1% during the first 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 in the last quarter. Graney & King LLC bought a new position in shares of Labcorp in the fourth quarter worth $26,000. North Capital Inc. bought a new stake in Labcorp during the first quarter valued at $27,000. TruNorth Capital Management LLC bought a new position in Labcorp in the 1st quarter worth about $28,000. Finally, Larson Financial Group LLC raised its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after acquiring an additional 73 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

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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