Labcorp Holdings Inc. (NYSE:LH) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Labcorp Holdings Inc. (NYSE:LH) have been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $296.4615.

A number of equities research analysts recently commented on LH shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a research report on Wednesday, October 8th. Evercore ISI increased their price target on Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research report on Friday, October 3rd. Truist Financial set a $320.00 price target on Labcorp in a research report on Tuesday, October 14th. Mizuho increased their price target on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Finally, Robert W. Baird set a $311.00 price objective on Labcorp in a research note on Monday, August 25th.

Insider Transactions at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 3,903 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $271.42, for a total transaction of $1,059,352.26. Following the completion of the transaction, the executive vice president owned 2,274 shares in the company, valued at approximately $617,209.08. This represents a 63.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $266.78, for a total value of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares in the company, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,546 shares of company stock worth $3,094,692. 0.84% of the stock is owned by company insiders.

Institutional Trading of Labcorp

Institutional investors have recently added to or reduced their stakes in the stock. Harbor Asset Planning Inc. purchased a new stake in Labcorp during the 2nd quarter worth about $25,000. Caldwell Trust Co purchased a new stake in Labcorp during the 2nd quarter worth about $25,000. Golden State Wealth Management LLC lifted its holdings in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Labcorp during the 2nd quarter worth about $26,000. Finally, North Capital Inc. purchased a new stake in Labcorp during the 1st quarter worth about $27,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Trading Down 0.5%

NYSE LH opened at $282.81 on Thursday. The firm has a market capitalization of $23.50 billion, a P/E ratio of 31.21, a PEG ratio of 1.82 and a beta of 0.89. The business has a fifty day simple moving average of $278.16 and a 200 day simple moving average of $258.72. Labcorp has a 12 month low of $209.38 and a 12 month high of $293.72. The company has a current ratio of 1.50, a quick ratio of 1.32 and a debt-to-equity ratio of 0.61.

Labcorp (NYSE:LH) last released its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, beating analysts’ consensus estimates of $4.14 by $0.21. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.Labcorp’s quarterly revenue was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.94 EPS. On average, analysts predict that Labcorp will post 16.01 EPS for the current fiscal year.

Labcorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Stockholders of record on Wednesday, November 26th will be paid a dividend of $0.72 per share. The ex-dividend date is Wednesday, November 26th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is presently 31.79%.

About Labcorp

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