UBS Group Raises Labcorp (NYSE:LH) Price Target to $325.00

Key Points

• UBS Group has raised its price target for Labcorp from $305.00 to $325.00, maintaining a "buy" rating, indicating a potential upside of 13.66% from the stock's current price.
• Labcorp reported quarterly earnings of $4.35 per share, surpassing analyst estimates, and has guided for FY 2025 EPS in the range of 16.050-16.500.
• Insider trading activity shows significant sales, with CEO Adam H. Schechter selling over $1.5 million worth of shares, representing a 5.70% decrease in his ownership of the stock.

Labcorp (NYSE:LH - Get Free Report) had its price target increased by stock analysts at UBS Group from $305.00 to $325.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the medical research company's stock. UBS Group's price objective suggests a potential upside of 13.66% from the stock's current price.

LH has been the topic of a number of other research reports. Truist Financial set a $320.00 price objective on Labcorp in a research note on Tuesday. Robert W. Baird set a $311.00 price target on Labcorp in a research note on Monday, August 25th. Morgan Stanley boosted their price target on Labcorp from $283.00 to $306.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Labcorp from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Labcorp in a research note on Wednesday, October 8th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Labcorp currently has an average rating of "Moderate Buy" and an average target price of $296.46.

Labcorp Trading Up 0.8%

LH stock traded up $2.22 during trading on Friday, reaching $285.93. 29,628 shares of the stock traded hands, compared to its average volume of 671,297. The business's 50 day moving average price is $276.80 and its 200-day moving average price is $257.22. Labcorp has a 52-week low of $209.38 and a 52-week high of $289.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32. The firm has a market capitalization of $23.76 billion, a PE ratio of 31.56, a P/E/G ratio of 1.81 and a beta of 0.89.

Labcorp (NYSE:LH - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.49 billion. During the same quarter in the previous year, the business earned $3.94 earnings per share. The firm's quarterly revenue was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. As a group, sell-side analysts forecast that Labcorp will post 16.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the completion of the transaction, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. This represents a 5.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total value of $529,900.00. Following the completion of the transaction, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. This trade represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,046 shares of company stock valued at $4,074,692. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

A number of institutional investors have recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its position in Labcorp by 50.2% in the third quarter. Apollon Wealth Management LLC now owns 1,212 shares of the medical research company's stock worth $348,000 after purchasing an additional 405 shares during the period. Burney Co. lifted its position in Labcorp by 0.5% in the third quarter. Burney Co. now owns 8,819 shares of the medical research company's stock worth $2,532,000 after purchasing an additional 42 shares during the period. CWM LLC lifted its position in shares of Labcorp by 8.1% during the 3rd quarter. CWM LLC now owns 8,230 shares of the medical research company's stock valued at $2,363,000 after acquiring an additional 619 shares during the last quarter. Busey Bank lifted its position in shares of Labcorp by 0.6% during the 3rd quarter. Busey Bank now owns 62,900 shares of the medical research company's stock valued at $18,056,000 after acquiring an additional 395 shares during the last quarter. Finally, Pacer Advisors Inc. lifted its position in shares of Labcorp by 4,070.6% during the 3rd quarter. Pacer Advisors Inc. now owns 305,746 shares of the medical research company's stock valued at $87,767,000 after acquiring an additional 298,415 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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.

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