Labcorp (NYSE:LH) PT Set at $275.00 by Barclays

Labcorp (NYSE:LHGet Free Report) has been assigned a $275.00 target price by investment analysts at Barclays in a research report issued on Wednesday, Marketbeat reports. The brokerage presently has an “equal weight” rating on the medical research company’s stock. Barclays‘s target price indicates a potential upside of 6.95% from the stock’s previous close.

A number of other brokerages have also commented on LH. Morgan Stanley upped their price target on Labcorp from $270.00 to $283.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. Truist Financial upped their target price on shares of Labcorp from $274.00 to $290.00 and gave the company a “buy” rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Citigroup upgraded shares of Labcorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a report on Tuesday, March 4th. Finally, Robert W. Baird upped their price objective on shares of Labcorp from $253.00 to $267.00 and gave the company an “outperform” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.08.

Check Out Our Latest Research Report on LH

Labcorp Price Performance

NYSE LH opened at $257.12 on Wednesday. The stock’s 50-day moving average is $247.32 and its two-hundred day moving average is $240.88. Labcorp has a fifty-two week low of $198.96 and a fifty-two week high of $264.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.84 and a quick ratio of 1.60. The firm has a market cap of $21.52 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.64 and a beta of 0.81.

Labcorp (NYSE:LHGet Free Report) last announced its earnings results on Tuesday, April 29th. The medical research company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.73 by $0.11. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.41 billion. Labcorp had a net margin of 5.55% and a return on equity of 15.27%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $3.68 EPS. On average, analysts anticipate that Labcorp will post 16.01 earnings per share for the current fiscal year.

Insider Activity at Labcorp

In other Labcorp news, EVP Der Vaart Sandra D. Van sold 1,900 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $238.36, for a total transaction of $452,884.00. Following the completion of the transaction, the executive vice president now directly owns 2,244 shares in the company, valued at $534,879.84. This represents a 45.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kerrii B. Anderson sold 500 shares of Labcorp stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $260.00, for a total value of $130,000.00. Following the transaction, the director now directly owns 12,666 shares of the company’s stock, valued at approximately $3,293,160. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,334 shares of company stock valued at $2,796,214 over the last quarter. 0.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Labcorp

Several large investors have recently made changes to their positions in the company. Graney & King LLC bought a new position in Labcorp during the 4th quarter valued at about $26,000. Golden State Wealth Management LLC increased its holdings in shares of Labcorp by 88.1% during the first quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after buying an additional 52 shares in the last quarter. North Capital Inc. bought a new position in shares of Labcorp in the first quarter valued at approximately $27,000. TruNorth Capital Management LLC acquired a new position in shares of Labcorp in the 1st quarter worth approximately $28,000. Finally, Larson Financial Group LLC boosted its holdings in shares of Labcorp by 140.4% in the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company’s stock worth $29,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

(Get Free Report)

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

Further Reading

Analyst Recommendations for Labcorp (NYSE:LH)

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