Labcorp (NYSE:LH) Price Target Raised to $320.00

Key Points

• Bank of America raised Labcorp’s price target from $300 to $320 and reiterated its buy rating, implying about 14.9% upside from the current price.
• Other analysts remain constructive on the stock, with Labcorp carrying a Moderate Buy consensus and an average price target of $314.40 across MarketBeat-tracked ratings.
• Labcorp reported better-than-expected quarterly results, posting EPS of $4.25 versus estimates of $4.09 and revenue of $3.54 billion, while the stock recently traded at $278.48.

Labcorp (NYSE:LH - Get Free Report) had its price target lifted by equities research analysts at Bank of America from $300.00 to $320.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the medical research company's stock. Bank of America's price target suggests a potential upside of 14.91% from the company's current price.

A number of other research analysts have also recently weighed in on LH. Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a research report on Friday, May 8th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a report on Sunday. Robert W. Baird set a $334.00 target price on shares of Labcorp in a research report on Friday, May 1st. Finally, Evercore reissued an "outperform" rating and issued a $300.00 price objective on shares of Labcorp in a research report on Wednesday, April 8th. Nine analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $314.40.

Labcorp Stock Performance

Labcorp stock traded up $1.67 during trading hours on Monday, reaching $278.48. 114,540 shares of the stock were exchanged, compared to its average volume of 665,259. Labcorp has a 52-week low of $241.81 and a 52-week high of $293.72. The stock has a market cap of $22.84 billion, a P/E ratio of 24.67, a P/E/G ratio of 1.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73. The firm's 50 day moving average is $264.07 and its 200 day moving average is $267.16.

Labcorp (NYSE:LH - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the business posted $3.84 earnings per share. The business's 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. Analysts predict that Labcorp will post 18 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $66,968.46. Following the sale, the executive vice president owned 6,746 shares of the company's stock, valued at $1,930,637.74. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares of the company's stock, valued at approximately $27,291,053. The trade was a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,991 shares of company stock worth $1,796,696 in the last 90 days. 0.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Brighton Jones LLC acquired a new position in Labcorp during the 4th quarter valued at about $991,000. Integrated Wealth Concepts LLC raised its holdings in shares of Labcorp by 7.9% during the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company's stock valued at $565,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Labcorp by 52.2% during the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company's stock worth $82,353,000 after buying an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in shares of Labcorp during the second quarter worth approximately $5,873,000. Finally, First Trust Advisors LP grew its holdings in Labcorp by 83.2% in the 2nd quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company's stock worth $22,588,000 after buying an additional 39,087 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

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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