Labcorp (NYSE:LH) Given New $360.00 Price Target at JPMorgan Chase & Co.

Labcorp (NYSE:LH) had its price target raised by research analysts at JPMorgan Chase & Co. from $330.00 to $360.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 16.23% from the stock’s previous close.

LH has been the topic of several other research reports. Barclays upped their price objective on shares of Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a research report on Wednesday, April 8th. Bank of America upped their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Truist Financial increased their price target on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday. Finally, Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and an average price target of $326.00.

Labcorp Trading Up 0.2%

Shares of LH stock traded up $0.53 during trading hours on Monday, hitting $309.73. 142,001 shares of the company were exchanged, compared to its average volume of 689,309. The firm has a market cap of $25.40 billion, a P/E ratio of 25.61, a P/E/G ratio of 1.88 and a beta of 0.87. Labcorp has a fifty-two week low of $244.52 and a fifty-two week high of $316.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80. The company has a 50 day simple moving average of $274.71 and a two-hundred day simple moving average of $271.16.

Labcorp (NYSE:LH) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.21. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. Labcorp’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Equities analysts anticipate that Labcorp will post 18.31 EPS for the current year.

Insider Buying and Selling

In other news, EVP Kathryn W. Kyle sold 762 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Bryan T. Vaughn sold 234 shares of Labcorp stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president directly owned 6,746 shares of the company’s stock, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is owned by insiders.

Institutional Trading of Labcorp

A number of institutional investors have recently modified their holdings of LH. Wedge Capital Management L L P NC raised its holdings in Labcorp by 1.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 109,674 shares of the medical research company’s stock valued at $30,709,000 after acquiring an additional 1,842 shares during the period. Tema ETFs LLC raised its stake in shares of Labcorp by 8.2% during the 2nd quarter. Tema ETFs LLC now owns 1,907 shares of the medical research company’s stock valued at $534,000 after purchasing an additional 145 shares during the period. Handelsbanken Fonder AB lifted its holdings in Labcorp by 4.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 28,208 shares of the medical research company’s stock worth $7,898,000 after purchasing an additional 1,282 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its stake in Labcorp by 8.1% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 2,500 shares of the medical research company’s stock worth $700,000 after purchasing an additional 188 shares during the period. Finally, Allied Private Wealth LLC purchased a new position in Labcorp during the 2nd quarter valued at about $33,000. 95.94% of the stock is currently owned by hedge funds and other 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.