Labcorp (NYSE:LH) Given New $338.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised its price target on Labcorp from $335 to $338 and maintained an outperform rating, implying about 21% upside from the prior close.
• Other analysts have also been positive: Bank of America lifted its target to $320 with a buy rating, while Labcorp’s overall analyst consensus remains Moderate Buy with an average target of $314.40.
• Labcorp’s latest quarter beat expectations, posting $4.25 EPS on $3.54 billion in revenue, and the stock recently traded at $278.48, above its 50-day and 200-day moving averages.

Labcorp (NYSE:LH - Get Free Report) had its target price upped by analysts at Robert W. Baird from $335.00 to $338.00 in a research note issued on Monday,Benzinga reports. The firm currently has an "outperform" rating on the medical research company's stock. Robert W. Baird's target price indicates a potential upside of 21.37% from the stock's previous close.

Other equities analysts also recently issued reports about the company. Bank of America boosted their price objective on Labcorp from $300.00 to $320.00 and gave the company a "buy" rating in a research report on Monday. Evercore reissued an "outperform" rating and set a $300.00 target price on shares of Labcorp in a research note on Wednesday, April 8th. Wall Street Zen raised Labcorp from a "hold" rating to a "buy" rating in a research note on Sunday. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a research note on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $314.40.

Labcorp Price Performance

Shares of LH stock traded up $1.67 on Monday, hitting $278.48. 114,540 shares of the stock traded hands, compared to its average volume of 665,259. The firm has a market cap of $22.84 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.94 and a beta of 0.89. Labcorp has a 52 week low of $241.81 and a 52 week high of $293.72. The firm has a 50 day simple moving average of $264.07 and a two-hundred day simple moving average of $267.16. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.73 and a quick ratio of 1.54.

Labcorp (NYSE:LH - Get Free Report) last issued its earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the prior year, the firm posted $3.84 EPS. Labcorp's quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, equities research analysts predict that Labcorp will post 18 earnings per share for the current fiscal year.

Insider Transactions at Labcorp

In related news, EVP Bryan T. Vaughn sold 234 shares of the business's stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kathryn W. Kyle sold 92 shares of the stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $26,329.48. Following the transaction, the executive vice president directly owned 3,904 shares of the company's stock, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company's stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Boston Partners bought a new stake in Labcorp in the fourth quarter worth about $480,271,000. Norges Bank purchased a new position in shares of Labcorp during the fourth quarter valued at approximately $248,006,000. Wellington Management Group LLP boosted its position in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company's stock valued at $604,488,000 after buying an additional 289,029 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Labcorp by 79.1% during the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company's stock valued at $178,996,000 after buying an additional 275,454 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

About Labcorp

Laboratory Corporation of America Holdings, commonly known as Labcorp NYSE: LH, is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp's core businesses encompass clinical laboratory testing and pharmaceutical development services.

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