Labcorp Holdings Inc. (NYSE:LH) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Labcorp Holdings Inc. (NYSE:LH) have earned an average recommendation of “Moderate Buy” from the sixteen analysts that are covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $297.0714.

Several research analysts have commented on LH shares. Barclays lifted their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. UBS Group reduced their target price on Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, October 29th. Mizuho raised their price target on shares of Labcorp from $285.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Finally, Evercore ISI boosted their price target on shares of Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd.

Labcorp Trading Down 1.6%

LH opened at $261.42 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. Labcorp has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The company’s 50 day moving average price is $269.95 and its two-hundred day moving average price is $265.40. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 1.76 and a beta of 0.99.

Labcorp (NYSE:LH) last released its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter last year, the firm earned $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 predict that Labcorp will post 16.01 earnings per share for the current year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Shareholders of record on Wednesday, November 26th will be given a dividend of $0.72 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio is 28.29%.

Insider Transactions at Labcorp

In related news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the sale, the chief executive officer owned 87,574 shares in the company, valued at $23,010,068.50. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the completion of the sale, the director owned 2,469 shares of the company’s stock, valued at approximately $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

A number of institutional investors and hedge funds have recently modified their holdings of the business. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp in the 2nd quarter valued at $25,000. Caldwell Trust Co acquired a new stake in Labcorp in the second quarter worth $25,000. Financial Gravity Companies Inc. bought a new stake in Labcorp in the second quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in Labcorp in the third quarter valued at $28,000. Finally, Motco acquired a new position in shares of Labcorp during the third quarter valued at about $32,000. 95.94% of the stock is currently owned by institutional investors.

Labcorp Company Profile

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