Labcorp (NYSE:LH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Labcorp (NYSE:LH) had its target price upped by equities research analysts at Robert W. Baird from $335.00 to $338.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s target price suggests a potential upside of 21.37% from the company’s previous close.

LH has been the subject of a number of other research reports. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday. Bank of America upped their target price on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and set a $300.00 price target on shares of Labcorp in a research note on Wednesday, April 8th. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $314.40.

Labcorp Trading Up 0.6%

LH stock traded up $1.67 during midday trading on Monday, reaching $278.48. The company’s stock had a trading volume of 114,540 shares, compared to its average volume of 665,259. Labcorp has a 1 year low of $241.81 and a 1 year high of $293.72. The firm has a market capitalization of $22.84 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.94 and a beta of 0.89. The stock has a fifty day simple moving average of $264.07 and a two-hundred day simple moving average of $267.16. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 1.73.

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

Insider Buying and Selling at Labcorp

In other news, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $26,329.48. Following the transaction, the executive vice president directly owned 3,904 shares in the company, valued at approximately $1,117,285.76. This trade represents a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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. Also, CEO Adam H. Schechter sold 5,903 shares of the business’s stock in a transaction on Monday, May 11th. The stock was 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 of the company’s stock, valued at approximately $27,291,053. The trade was a 5.22% 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. In the last 90 days, insiders have sold 6,991 shares of company stock valued at $1,796,696. 0.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Labcorp

A number of large investors have recently added to or reduced their stakes in LH. UBS Group AG boosted its position in shares of Labcorp by 2.2% in the 4th quarter. UBS Group AG now owns 495,535 shares of the medical research company’s stock worth $124,320,000 after purchasing an additional 10,706 shares in the last quarter. Cinctive Capital Management LP acquired a new position in Labcorp during the 3rd quarter valued at about $3,297,000. Gotham Asset Management LLC raised its stake in Labcorp by 39.2% in the third quarter. Gotham Asset Management LLC now owns 95,029 shares of the medical research company’s stock valued at $27,279,000 after buying an additional 26,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Labcorp by 0.6% in 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 in the last quarter. Finally, Swiss Life Asset Management Ltd boosted its holdings in Labcorp by 121.0% in the third quarter. Swiss Life Asset Management Ltd now owns 37,029 shares of the medical research company’s stock worth $10,630,000 after acquiring an additional 20,276 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors.

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.