Labcorp (NYSE:LH) Cut to Hold at Wall Street Zen

Labcorp (NYSE:LH) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other research firms have also recently issued reports on LH. Barclays boosted their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Robert W. Baird set a $304.00 target price on Labcorp in a report on Wednesday, October 29th. Evercore ISI raised their price target on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $297.07.

Labcorp Trading Down 1.2%

LH opened at $258.30 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55. The stock’s 50 day moving average price is $269.49 and its 200-day moving average price is $265.46. Labcorp has a one year low of $209.38 and a one year high of $293.72. The stock has a market cap of $21.41 billion, a price-to-earnings ratio of 25.37, a P/E/G ratio of 1.73 and a beta of 0.99.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. The company had revenue of $3.56 billion during 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%.Labcorp’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. On average, equities analysts forecast that Labcorp will post 16.01 EPS for the current year.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares of the company’s stock, valued at $23,010,068.50. The trade was a 6.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richelle P. Parham sold 7,009 shares of the stock in a transaction that occurred 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 sale, the director directly owned 2,469 shares of the company’s stock, valued at $627,817.32. The trade was a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by insiders.

Hedge Funds Weigh In On Labcorp

Large investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Labcorp by 2.6% in the 3rd quarter. Allworth Financial LP now owns 5,779 shares of the medical research company’s stock worth $1,659,000 after purchasing an additional 148 shares in the last quarter. IFP Advisors Inc raised its stake in Labcorp by 62.5% in the third quarter. IFP Advisors Inc now owns 429 shares of the medical research company’s stock valued at $123,000 after buying an additional 165 shares during the last quarter. Swiss Life Asset Management Ltd boosted its holdings in Labcorp by 121.0% in the third quarter. Swiss Life Asset Management Ltd now owns 37,029 shares of the medical research company’s stock worth $10,630,000 after acquiring an additional 20,276 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of Labcorp during the third quarter worth about $3,715,000. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Labcorp by 12.9% during the third quarter. Coldstream Capital Management Inc. now owns 2,440 shares of the medical research company’s stock valued at $700,000 after acquiring an additional 279 shares in the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

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.