FY2027 EPS Estimates for Labcorp Lowered by Leerink Partnrs

Labcorp Holdings Inc. (NYSE:LH - Free Report) - Leerink Partnrs decreased their FY2027 earnings estimates for Labcorp in a report issued on Tuesday, July 8th. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings per share of $19.74 for the year, down from their prior forecast of $19.91. The consensus estimate for Labcorp's current full-year earnings is $16.01 per share.

Labcorp (NYSE:LH - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The company's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.68 earnings per share.

Several other analysts have also issued reports on LH. HSBC lowered shares of Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target on the stock. in a research report on Thursday. Truist Financial boosted their price target on shares of Labcorp from $274.00 to $290.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Evercore ISI boosted their price objective on shares of Labcorp from $260.00 to $285.00 and gave the company an "outperform" rating in a research note on Wednesday. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Finally, Wall Street Zen cut shares of Labcorp from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $276.38.

Labcorp Stock Performance

LH stock traded down $4.39 during mid-day trading on Thursday, hitting $249.24. The company had a trading volume of 1,139,598 shares, compared to its average volume of 648,524. The stock's fifty day moving average price is $253.64 and its two-hundred day moving average price is $243.09. Labcorp has a 12 month low of $205.98 and a 12 month high of $265.72. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.60 and a current ratio of 1.84. The firm has a market cap of $20.86 billion, a PE ratio of 28.81, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82.

Institutional Trading of Labcorp

Several institutional investors have recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in shares of Labcorp during the 4th quarter valued at about $991,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Labcorp by 13.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 733 shares of the medical research company's stock valued at $168,000 after acquiring an additional 86 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Labcorp during the 4th quarter valued at about $16,512,000. Raymond James Financial Inc. purchased a new stake in shares of Labcorp during the 4th quarter valued at about $33,779,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Labcorp by 3.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 40,346 shares of the medical research company's stock valued at $9,252,000 after acquiring an additional 1,431 shares during the last quarter. 95.94% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Adam H. Schechter sold 6,105 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $248.73, for a total value of $1,518,496.65. Following the sale, the chief executive officer directly owned 98,962 shares of the company's stock, valued at $24,614,818.26. This represents a 5.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian J. Caveney sold 2,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $247.00, for a total transaction of $494,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,834 shares of company stock worth $2,928,714. Company insiders own 0.84% of the company's stock.

Labcorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 28th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.16%. Labcorp's dividend payout ratio (DPR) is presently 33.29%.

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.