Labcorp (NYSE:LH) Price Target Raised to $309.00

Labcorp (NYSE:LH) had its price objective increased by Piper Sandler from $300.00 to $309.00 in a report released on Tuesday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the medical research company’s stock.

LH has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Barclays raised their target price on shares of Labcorp from $290.00 to $320.00 and gave the stock an “equal weight” rating in a report on Thursday, July 30th. Bank of America upped their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Robert W. Baird set a $352.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Finally, Morgan Stanley boosted their target price on Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Labcorp has a consensus rating of “Moderate Buy” and an average target price of $326.82.

Labcorp Trading Up 0.9%

LH opened at $316.93 on Tuesday. The stock has a 50-day moving average of $278.94 and a 200 day moving average of $272.54. The company has a current ratio of 1.80, a quick ratio of 1.53 and a debt-to-equity ratio of 0.69. Labcorp has a 12 month low of $244.52 and a 12 month high of $317.10. The firm has a market cap of $25.99 billion, a P/E ratio of 26.21, a P/E/G ratio of 1.81 and a beta of 0.87.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.78 by $0.21. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, research analysts forecast that Labcorp will post 18.35 EPS for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp’s payout ratio is currently 23.82%.

Insider Activity at Labcorp

In other Labcorp news, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kathryn W. Kyle sold 762 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares in the company, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 7,915 shares of company stock valued at $2,080,123. Company insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in shares of Labcorp in the 3rd quarter worth $28,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Labcorp during the fourth quarter valued at $26,000. Hilton Head Capital Partners LLC bought a new stake in shares of Labcorp in the fourth quarter valued at about $27,000. Eagle Bay Advisors LLC bought a new stake in shares of Labcorp in the fourth quarter valued at about $29,000. Finally, DV Equities LLC purchased a new stake in Labcorp in the fourth quarter worth about $29,000. Institutional investors own 95.94% of the company’s stock.

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.