Labcorp (NYSE:LH – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday.
Several other brokerages have also recently issued reports on LH. Evercore restated an “outperform” rating and issued a $300.00 target price on shares of Labcorp in a report on Wednesday, April 8th. Robert W. Baird set a $334.00 price target on Labcorp in a report on Friday, May 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $313.33.
View Our Latest Research Report on LH
Labcorp Stock Performance
Labcorp (NYSE:LH – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The firm had revenue of $3.54 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same period in the previous year, the business posted $3.84 earnings per share. The business’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, research analysts expect that Labcorp will post 18 EPS for the current year.
Insider Activity at Labcorp
In other Labcorp news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 92 shares of the stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the transaction, the executive vice president owned 3,904 shares in the company, valued at $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by company insiders.
Hedge Funds Weigh In On Labcorp
Several institutional investors and hedge funds have recently bought and sold shares of LH. REAP Financial Group LLC lifted its position in shares of Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after purchasing an additional 37 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Labcorp by 1.7% in the first quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after purchasing an additional 40 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in Labcorp by 2.6% in the fourth quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock valued at $409,000 after buying an additional 41 shares during the last quarter. Larson Financial Group LLC increased its holdings in Labcorp by 37.5% in the third quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after buying an additional 42 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in Labcorp by 3.9% during the fourth quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after buying an additional 42 shares in the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.
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.
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