Analysts Set Labcorp Holdings Inc. (NYSE:LH) Price Target at $308.00

Shares of Labcorp Holdings Inc. (NYSE:LH) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $308.00.

LH has been the subject of several recent research reports. Evercore reissued an “outperform” rating and issued a $300.00 price target 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded shares of Labcorp from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th.

Insider Activity

In other news, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction dated 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 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 dated Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the transaction, the executive vice president directly owned 3,813 shares of the company’s stock, valued at approximately $1,006,212.57. This trade represents a 16.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its position in shares of Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after buying an additional 2,719,475 shares during the period. Boston Partners purchased a new position in shares of Labcorp during the fourth quarter valued at about $480,271,000. Norges Bank purchased a new position in shares of Labcorp during the fourth quarter valued at about $248,006,000. Wellington Management Group LLP increased its position in shares of Labcorp by 15.9% during the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock valued at $604,488,000 after buying an additional 289,029 shares during the period. Finally, Marshall Wace LLP increased its position in shares of Labcorp by 79.1% during the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after buying an additional 275,454 shares during the period. 95.94% of the stock is owned by institutional investors.

Labcorp Stock Performance

Labcorp stock opened at $272.09 on Tuesday. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $22.31 billion, a PE ratio of 24.10, a P/E/G ratio of 1.90 and a beta of 0.90. The firm has a fifty day simple moving average of $260.97 and a two-hundred day simple moving average of $265.49. Labcorp has a twelve month low of $241.81 and a twelve month high of $293.72.

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

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Stockholders of record on Friday, May 29th were paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Labcorp’s dividend payout ratio is 25.51%.

About Labcorp

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.