Labcorp (NYSE:LH) Price Target Raised to $309.00

Key Points

• Piper Sandler raised Labcorp’s price target to $309 from $300 while maintaining a “neutral” rating, implying approximately 0.8% upside from the prior close.
• Analyst sentiment remains broadly positive: nine analysts rate the stock “Buy” and three rate it “Hold,” resulting in a consensus “Moderate Buy” rating and an average target of $326.82.
• Labcorp exceeded quarterly expectations, reporting $4.99 in EPS versus the $4.78 consensus and $3.73 billion in revenue; quarterly revenue increased 5.8% year over year.

Labcorp (NYSE:LH - Get Free Report) had its price objective upped by research analysts at Piper Sandler from $300.00 to $309.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the medical research company's stock. Piper Sandler's price target would suggest a potential upside of 0.80% from the company's previous close.

Several other research firms also recently commented on LH. Truist Financial raised their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a "buy" rating in a report on Friday. Weiss Ratings raised shares of Labcorp from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, July 24th. Morgan Stanley raised their price target on Labcorp from $308.00 to $338.00 and gave the stock an "overweight" rating in a report on Friday. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $306.00 price objective on shares of Labcorp in a report on Friday. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $326.82.

Labcorp Stock Performance

Shares of NYSE LH traded down $0.88 during trading on Tuesday, reaching $306.54. 153,776 shares of the stock traded hands, compared to its average volume of 689,539. Labcorp has a 52-week low of $244.52 and a 52-week high of $316.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The company has a 50-day moving average of $275.66 and a 200-day moving average of $271.54. The stock has a market capitalization of $25.14 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.78 by $0.21. The business had revenue of $3.73 billion for the quarter, compared to analysts' expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Analysts forecast that Labcorp will post 18.31 EPS for the current fiscal year.

Insider Transactions at Labcorp

In other news, EVP Bryan T. Vaughn sold 234 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $66,968.46. Following the transaction, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. This represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, CEO Adam H. Schechter sold 5,903 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the sale, the chief executive officer owned 107,234 shares of the company's stock, valued at $27,291,053. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

A number of institutional investors have recently made changes to their positions in LH. JPL Wealth Management LLC bought a new stake in Labcorp in the third quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Labcorp during the fourth quarter valued at about $26,000. Hilton Head Capital Partners LLC purchased a new position in shares of Labcorp in the fourth quarter worth about $27,000. Eagle Bay Advisors LLC purchased a new position in shares of Labcorp in the fourth quarter worth about $29,000. Finally, DV Equities LLC bought a new stake in shares of Labcorp in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Company Profile

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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