Labcorp (NYSE:LH - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Saturday.
A number of other research analysts have also recently issued reports on LH. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. Evercore ISI boosted their target price on Labcorp from $285.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday. Redburn Atlantic assumed coverage on Labcorp in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 target price for the company. HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 target price for the company. in a research note on Thursday, July 10th. Finally, Robert W. Baird upped their price objective on Labcorp from $290.00 to $302.00 and gave the stock an "outperform" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $285.00.
Check Out Our Latest Analysis on LH
Labcorp Trading Down 1.2%
LH stock opened at $264.46 on Friday. The company has a market cap of $22.14 billion, a P/E ratio of 29.19, a PEG ratio of 1.69 and a beta of 0.82. Labcorp has a twelve month low of $209.38 and a twelve month high of $283.47. The company has a quick ratio of 1.60, a current ratio of 1.50 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $254.43 and a 200-day moving average of $244.53.
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 for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%. The firm's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.94 earnings per share. As a group, equities research analysts expect that Labcorp will post 16.01 EPS for the current year.
Insider Buying and Selling at Labcorp
In related news, Director Kerrii B. Anderson sold 500 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $265.00, for a total transaction of $132,500.00. Following the sale, the director owned 12,166 shares of the company's stock, valued at $3,223,990. This represents a 3.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total value of $494,000.00. Following the sale, the executive vice president directly owned 30,067 shares in the company, valued at $7,426,549. This represents a 6.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 11,834 shares of company stock valued at $2,928,714 over the last ninety days. 0.84% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Labcorp
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Labcorp by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company's stock valued at $2,262,817,000 after purchasing an additional 71,464 shares in the last quarter. Select Equity Group L.P. boosted its holdings in shares of Labcorp by 39.1% during the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company's stock valued at $516,696,000 after acquiring an additional 624,099 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Labcorp by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 2,003,998 shares of the medical research company's stock valued at $458,334,000 after acquiring an additional 39,255 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Labcorp by 2.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company's stock valued at $528,739,000 after acquiring an additional 43,509 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Labcorp by 2.2% during the 4th quarter. FMR LLC now owns 1,620,826 shares of the medical research company's stock valued at $371,688,000 after acquiring an additional 34,429 shares in the last quarter. Institutional investors and hedge funds own 95.94% of the company's stock.
Labcorp Company Profile
(
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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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