Labcorp (NYSE:LH) Price Target Raised to $326.00

Labcorp (NYSE:LH) had its target price boosted by Robert W. Baird from $313.00 to $326.00 in a research report released on Wednesday morning, MarketBeat reports. Robert W. Baird currently has an outperform rating on the medical research company’s stock.

Several other analysts also recently weighed in on LH. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. UBS Group reduced their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. lifted their price target on Labcorp from $317.00 to $319.00 and gave the stock an “overweight” rating in a research report on Friday, February 6th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $302.75.

Labcorp Trading Up 0.0%

Shares of NYSE:LH opened at $282.57 on Wednesday. The business’s 50-day moving average is $265.50 and its 200 day moving average is $269.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.42 and a quick ratio of 1.35. Labcorp has a 1 year low of $209.38 and a 1 year high of $293.72. The firm has a market capitalization of $23.43 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.93 and a beta of 1.03.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, topping analysts’ consensus estimates of $3.95 by $0.12. Labcorp had a return on equity of 16.16% and a net margin of 6.28%.The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same quarter in the previous year, the firm earned $3.45 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. On average, research analysts predict that Labcorp will post 16.01 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 12th. Shareholders of record on Friday, February 27th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, February 27th. Labcorp’s dividend payout ratio is presently 28.29%.

Insider Activity

In other Labcorp news, CEO Adam H. Schechter sold 5,273 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $284.38, for a total transaction of $1,499,535.74. Following the sale, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at approximately $24,838,602.34. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $290.42, for a total value of $25,266.54. Following the completion of the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. This trade represents a 3.03% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Labcorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Labcorp by 7.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock valued at $41,537,000 after acquiring an additional 11,262 shares in the last quarter. Lazard Asset Management LLC grew its stake in Labcorp by 224.1% during the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after purchasing an additional 684,153 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Labcorp by 12.0% during the 3rd quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after purchasing an additional 4,800 shares during the period. Franklin Resources Inc. raised its position in Labcorp by 3.1% in the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after purchasing an additional 1,043 shares in the last quarter. Finally, Independent Advisor Alliance boosted its stake in shares of Labcorp by 166.6% in the 3rd quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock valued at $3,477,000 after buying an additional 7,568 shares during the period. Institutional investors and hedge funds 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.