Labcorp (NYSE:LH) Stock Rating Upgraded by Wall Street Zen

Labcorp (NYSE:LH) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Friday.

Other equities research analysts also recently issued research reports about the company. Barclays boosted their target price on Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Evercore ISI upped their target price on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised their target price on shares of Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Robert W. Baird set a $313.00 price target on shares of Labcorp in a research note on Wednesday, January 14th. Finally, Mizuho raised their price objective on shares of Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Ten analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $299.77.

Labcorp Trading Down 1.2%

Shares of NYSE LH opened at $266.72 on Friday. Labcorp has a 1-year low of $209.38 and a 1-year high of $293.72. The company has a 50-day moving average of $260.36 and a two-hundred day moving average of $266.26. The company has a market cap of $22.11 billion, a PE ratio of 26.20, a P/E/G ratio of 1.68 and a beta of 1.00. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, beating analysts’ consensus estimates of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same quarter last year, the business posted $3.50 earnings per share. Labcorp’s revenue for the quarter was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities analysts expect that Labcorp will post 16.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richelle P. Parham sold 7,009 shares of Labcorp 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 of the company’s stock, valued at $627,817.32. This trade represents a 73.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the completion of the sale, the chief executive officer owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Several institutional investors have recently modified their holdings of LH. Harbor Asset Planning Inc. acquired a new stake in Labcorp during the 2nd quarter worth approximately $25,000. Caldwell Trust Co acquired a new position in shares of Labcorp in the second quarter valued at approximately $25,000. Financial Gravity Companies Inc. bought a new stake in shares of Labcorp during the second quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Labcorp during the fourth quarter worth $26,000. Finally, JPL Wealth Management LLC bought a new stake in Labcorp in the 3rd quarter valued at $28,000. Institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

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.