Labcorp (NYSE:LH) Price Target Raised to $326.00

Labcorp (NYSE:LHGet Free Report) had its target price boosted by research analysts at Robert W. Baird from $313.00 to $326.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the medical research company’s stock. Robert W. Baird’s price objective points to a potential upside of 17.89% from the company’s current price.

LH has been the topic of a number of other research reports. UBS Group cut their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on Labcorp from $317.00 to $319.00 and gave the stock an “overweight” rating in a report on Friday, February 6th. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a report on Tuesday. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings upgraded Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 10th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $301.83.

Get Our Latest Research Report on LH

Labcorp Trading Down 2.2%

Shares of Labcorp stock opened at $276.53 on Wednesday. Labcorp has a fifty-two week low of $209.38 and a fifty-two week high of $293.72. The business’s fifty day moving average is $264.43 and its two-hundred day moving average is $268.92. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $22.92 billion, a PE ratio of 27.16, a P/E/G ratio of 1.78 and a beta of 1.03.

Labcorp (NYSE:LHGet Free Report) last released its earnings results on Tuesday, February 17th. The medical research company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.95 by $0.12. The firm had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.56 billion. Labcorp had a return on equity of 15.85% and a net margin of 6.21%.The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.45 earnings per share. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Analysts anticipate that Labcorp will post 16.01 earnings per share for the current year.

Insider Activity

In other news, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $290.42, for a total transaction of $25,266.54. Following the transaction, the executive vice president directly owned 2,782 shares of the company’s stock, valued at approximately $807,948.44. The trade was a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 5,273 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $284.38, for a total transaction of $1,499,535.74. Following the completion of the transaction, the chief executive officer owned 87,343 shares of the company’s stock, valued at $24,838,602.34. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company’s stock.

Institutional Trading of Labcorp

A number of hedge funds have recently made changes to their positions in LH. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock valued at $41,537,000 after buying an additional 11,262 shares during the period. Lazard Asset Management LLC boosted its position in Labcorp by 224.1% during the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock valued at $259,734,000 after purchasing an additional 684,153 shares during the period. Franklin Resources Inc. grew its stake in Labcorp by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after buying an additional 1,043 shares during the last quarter. New York State Common Retirement Fund increased its position in Labcorp by 12.0% in the third quarter. New York State Common Retirement Fund now owns 44,795 shares of the medical research company’s stock worth $12,859,000 after buying an additional 4,800 shares during the period. Finally, Independent Advisor Alliance lifted its stake in Labcorp by 166.6% in the third quarter. Independent Advisor Alliance now owns 12,111 shares of the medical research company’s stock valued at $3,477,000 after buying an additional 7,568 shares during the last quarter. Institutional investors and hedge funds own 95.94% of the company’s stock.

Labcorp News Summary

Here are the key news stories impacting Labcorp this week:

Labcorp Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Labcorp (NYSE:LH)

Receive News & Ratings for Labcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Labcorp and related companies with MarketBeat.com's FREE daily email newsletter.