Analysts Set Labcorp Holdings Inc. (NYSE:LH) Price Target at $297.07

Shares of Labcorp Holdings Inc. (NYSE:LH) have received a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $297.0714.

A number of research firms recently weighed in on LH. Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Truist Financial set a $320.00 price objective on shares of Labcorp in a report on Tuesday, October 14th. Evercore ISI increased their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. JPMorgan Chase & Co. lifted their target price on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Mizuho upped their price target on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the sale, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $254.28, for a total value of $1,782,248.52. Following the sale, the director directly owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. This trade represents a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Labcorp

A number of hedge funds have recently modified their holdings of the company. Brighton Jones LLC bought a new stake in shares of Labcorp in the fourth quarter worth about $991,000. Federated Hermes Inc. lifted its holdings in Labcorp by 186.8% in the 1st quarter. Federated Hermes Inc. now owns 826 shares of the medical research company’s stock worth $192,000 after buying an additional 538 shares during the period. Cary Street Partners Investment Advisory LLC grew its position in shares of Labcorp by 16.8% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 543 shares of the medical research company’s stock worth $126,000 after buying an additional 78 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Labcorp by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,722,508 shares of the medical research company’s stock valued at $2,262,817,000 after buying an additional 71,464 shares during the period. Finally, ASR Vermogensbeheer N.V. bought a new position in shares of Labcorp during the first quarter valued at approximately $650,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Stock Down 1.2%

Shares of NYSE:LH opened at $258.30 on Friday. The firm has a market capitalization of $21.41 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55. Labcorp has a 52-week low of $209.38 and a 52-week high of $293.72. The firm has a fifty day moving average of $269.49 and a 200 day moving average of $265.74.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the business posted $3.50 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, research analysts anticipate that Labcorp will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Wednesday, November 26th will be issued a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 28.29%.

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.