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

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

Several other equities research analysts also recently issued reports on LH. JPMorgan Chase & Co. boosted their price objective on shares of Labcorp from $319.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research note on Tuesday, February 17th. Evercore reiterated an “outperform” rating and set a $300.00 price objective on shares of Labcorp in a research note on Wednesday, April 8th. Robert W. Baird set a $334.00 price objective on shares of Labcorp in a research note on Friday, May 1st. Finally, Piper Sandler boosted their price objective on shares of Labcorp from $270.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 24th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $308.00.

Labcorp Price Performance

LH opened at $265.45 on Friday. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. Labcorp has a 52-week low of $241.81 and a 52-week high of $293.72. The company has a 50 day moving average of $262.65 and a two-hundred day moving average of $265.77. The company has a market cap of $21.77 billion, a P/E ratio of 23.51, a P/E/G ratio of 1.86 and a beta of 0.90.

Labcorp (NYSE:LH) last released its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The company had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period in the previous year, the firm earned $3.84 earnings per share. Labcorp’s revenue for the quarter was up 5.8% on a year-over-year basis. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. On average, analysts expect that Labcorp will post 18 earnings per share for the current year.

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares in the company, valued at approximately $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the completion of the sale, the executive vice president directly owned 3,813 shares in the company, valued at $1,006,212.57. This 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. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Labcorp

Several institutional investors have recently added to or reduced their stakes in LH. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Labcorp in the fourth quarter valued at $26,000. Hilton Head Capital Partners LLC acquired a new stake in Labcorp in the fourth quarter valued at $27,000. JPL Wealth Management LLC acquired a new stake in Labcorp in the third quarter valued at $28,000. Eagle Bay Advisors LLC acquired a new stake in Labcorp in the fourth quarter valued at $29,000. Finally, DV Equities LLC acquired a new stake in Labcorp in the fourth quarter valued at $29,000. 95.94% of the stock is owned by institutional investors and hedge funds.

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.