Labcorp (NYSE:LH – Get Free Report) had its price objective lifted by equities researchers at Truist Financial from $350.00 to $365.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Truist Financial’s target price suggests a potential upside of 13.95% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Piper Sandler upped their price objective on Labcorp from $300.00 to $309.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. increased their target price on Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Bank of America raised their target price on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Labcorp currently has an average rating of “Moderate Buy” and an average price target of $337.73.
Check Out Our Latest Report on LH
Labcorp Price Performance
Labcorp (NYSE:LH – Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the business posted $4.35 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, research analysts anticipate that Labcorp will post 18.32 earnings per share for the current year.
Insider Activity
In other Labcorp news, EVP Amy Summy sold 924 shares of Labcorp stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total transaction of $283,427.76. Following the transaction, the executive vice president directly owned 6,956 shares in the company, valued at approximately $2,133,683.44. The trade was a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Bryan Vaughn sold 234 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the sale, the executive vice president owned 6,746 shares of the company’s stock, valued at $1,930,637.74. This trade represents a 3.35% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 8,919 shares of company stock valued at $2,826,593. Company insiders own 0.84% of the company’s stock.
Institutional Trading of Labcorp
Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its holdings in shares of Labcorp by 106.5% in the first quarter. Fifth Third Bancorp now owns 57,981 shares of the medical research company’s stock valued at $15,470,000 after buying an additional 29,899 shares during the period. Geode Capital Management LLC raised its holdings in shares of Labcorp by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 2,137,010 shares of the medical research company’s stock worth $534,023,000 after acquiring an additional 13,775 shares during the period. CIBC Asset Management Inc lifted its position in Labcorp by 61.3% in the 4th quarter. CIBC Asset Management Inc now owns 19,974 shares of the medical research company’s stock valued at $5,011,000 after acquiring an additional 7,592 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares during the period. Finally, Tidal Investments LLC increased its holdings in Labcorp by 12.4% during the 2nd quarter. Tidal Investments LLC now owns 30,559 shares of the medical research company’s stock worth $8,557,000 after purchasing an additional 3,372 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.
About Labcorp
Labcorp (NYSE: LH), formerly Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing and related services to physicians, hospitals, health systems, employers, government agencies and consumers.
Its diagnostics business offers routine and specialty laboratory testing, including molecular, genetic, oncology, women’s health, infectious disease and pathology services.
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