UBS Group Boosts Labcorp (NYSE:LH) Price Target to $325.00

Labcorp (NYSE:LH) had its price target hoisted by research analysts at UBS Group from $305.00 to $325.00 in a report released on Friday, MarketBeat reports. The brokerage presently has a “buy” rating on the medical research company’s stock. UBS Group’s price target would indicate a potential upside of 13.77% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on LH. Barclays upped their price objective on shares of Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research note on Thursday, October 2nd. Robert W. Baird set a $311.00 price objective on shares of Labcorp in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Labcorp in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on shares of Labcorp from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Friday, October 3rd. Finally, Morgan Stanley upped their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Labcorp presently has an average rating of “Moderate Buy” and an average target price of $296.46.

Labcorp Price Performance

Shares of NYSE:LH opened at $285.66 on Friday. The company’s fifty day moving average price is $277.19 and its 200-day moving average price is $257.73. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 1.83 and a beta of 0.89. Labcorp has a one year low of $209.38 and a one year high of $289.20. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.32.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts’ consensus estimates of $4.14 by $0.21. The firm had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.49 billion. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.94 EPS. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, equities research analysts anticipate that Labcorp will post 16.01 earnings per share for the current fiscal year.

Insider Activity

In other Labcorp news, Director Kerrii B. Anderson sold 3,500 shares of the stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the completion of the sale, the director owned 8,666 shares of the company’s stock, valued at $2,426,480. This represents a 28.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Adam H. Schechter sold 5,643 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the sale, the chief executive officer directly owned 93,319 shares of the company’s stock, valued at $24,895,642.82. The trade was a 5.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,046 shares of company stock worth $4,074,692. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

Several institutional investors and hedge funds have recently modified their holdings of LH. Norges Bank purchased a new stake in shares of Labcorp in the 2nd quarter worth about $263,070,000. Lazard Asset Management LLC lifted its position in shares of Labcorp by 224.1% in the 2nd quarter. Lazard Asset Management LLC now owns 989,433 shares of the medical research company’s stock worth $259,734,000 after purchasing an additional 684,153 shares during the period. Select Equity Group L.P. lifted its position in shares of Labcorp by 39.1% in the 1st quarter. Select Equity Group L.P. now owns 2,220,056 shares of the medical research company’s stock worth $516,696,000 after purchasing an additional 624,099 shares during the period. Nordea Investment Management AB lifted its position in shares of Labcorp by 28.2% in the 2nd quarter. Nordea Investment Management AB now owns 1,829,039 shares of the medical research company’s stock worth $476,995,000 after purchasing an additional 401,808 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Labcorp by 28.9% in the 1st quarter. Invesco Ltd. now owns 1,421,112 shares of the medical research company’s stock worth $330,750,000 after purchasing an additional 318,865 shares during the period. 95.94% of the stock is owned by hedge funds and other institutional investors.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.