Labcorp (NYSE:LH) Given New $317.00 Price Target at JPMorgan Chase & Co.

Labcorp (NYSE:LH) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $291.00 to $317.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the medical research company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 25.48% from the stock’s current price.

A number of other research analysts have also issued reports on the company. Mizuho lifted their target price on Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Morgan Stanley lifted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Robert W. Baird set a $304.00 target price on shares of Labcorp in a research note on Wednesday, October 29th. Hsbc Global Res lowered shares of Labcorp from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 10th. Finally, Evercore ISI increased their price objective on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Twelve analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and a consensus price target of $297.07.

Labcorp Price Performance

Shares of LH stock traded up $5.99 during midday trading on Friday, reaching $252.63. 1,189,102 shares of the company were exchanged, compared to its average volume of 700,914. The company’s 50 day moving average price is $274.80 and its two-hundred day moving average price is $261.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.55. The company has a market cap of $20.94 billion, a P/E ratio of 24.82, a PEG ratio of 1.59 and a beta of 0.91. Labcorp has a 12 month low of $209.38 and a 12 month high of $293.72.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 EPS for the quarter, topping the consensus estimate of $4.13 by $0.05. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, sell-side analysts expect that Labcorp will post 16.01 earnings per share for the current year.

Insider Buying and Selling at Labcorp

In other news, Director Richelle P. Parham sold 7,009 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the transaction, the director directly owned 2,469 shares in the company, valued at $627,817.32. The trade was a 73.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Adam H. Schechter sold 5,643 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer owned 93,319 shares of the company’s stock, valued at approximately $24,895,642.82. This trade represents a 5.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 16,555 shares of company stock valued at $4,347,040 in the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

A number of large investors have recently added to or reduced their stakes in LH. Vontobel Holding Ltd. grew its stake in shares of Labcorp by 7.9% during the second quarter. Vontobel Holding Ltd. now owns 3,057 shares of the medical research company’s stock valued at $802,000 after purchasing an additional 225 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Labcorp by 1.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 145,977 shares of the medical research company’s stock valued at $38,320,000 after buying an additional 1,816 shares during the period. D.A. Davidson & CO. raised its position in shares of Labcorp by 12.7% during the second quarter. D.A. Davidson & CO. now owns 13,358 shares of the medical research company’s stock worth $3,507,000 after acquiring an additional 1,507 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Labcorp by 2.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,000,828 shares of the medical research company’s stock valued at $528,739,000 after acquiring an additional 43,509 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in Labcorp by 11.7% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 210,102 shares of the medical research company’s stock worth $55,154,000 after purchasing an additional 22,018 shares during the period. Institutional investors own 95.94% of the company’s stock.

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.