Analysts Set Labcorp Holdings Inc. (NYSE:LH) Target Price at $308.00

Shares of Labcorp Holdings Inc. (NYSE:LH) have been given an average rating of “Moderate Buy” by the eleven brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $308.00.

A number of equities analysts recently issued reports on LH shares. Evercore reiterated an “outperform” rating and issued a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Robert W. Baird set a $334.00 price target on shares of Labcorp in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their target price on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Piper Sandler increased their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, February 24th.

Labcorp Stock Down 1.6%

LH stock opened at $253.99 on Monday. Labcorp has a twelve month low of $239.67 and a twelve month high of $293.72. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The firm has a market cap of $20.83 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.91. The business has a 50 day moving average of $269.03 and a 200 day moving average of $266.77.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the company earned $3.84 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, research analysts forecast that Labcorp will post 17.99 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, May 29th. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Insiders Place Their Bets

In other Labcorp news, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total transaction of $429,465.00. Following the sale, the executive vice president directly owned 30,107 shares in the company, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Der Vaart Sandra D. Van sold 548 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $284.91, for a total value of $156,130.68. Following the sale, the executive vice president owned 2,579 shares in the company, valued at approximately $734,782.89. This represents a 17.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 16,113 shares of company stock valued at $4,547,450. 0.84% of the stock is currently owned by company insiders.

Institutional Trading of Labcorp

Several institutional investors have recently added to or reduced their stakes in LH. Victory Capital Management Inc. boosted its stake in Labcorp by 103.1% during the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Boston Partners bought a new position in shares of Labcorp during the 4th quarter valued at $480,271,000. Norges Bank bought a new position in shares of Labcorp during the 4th quarter valued at $248,006,000. Wellington Management Group LLP lifted its holdings in shares of Labcorp by 15.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Labcorp by 79.1% during the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after buying an additional 275,454 shares during the period. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Labcorp

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.