Labcorp (NYSE:LH) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Labcorp (NYSE:LH) from a hold rating to a buy rating in a report issued on Friday morning.

Several other equities research analysts have also recently weighed in on the stock. Truist Financial set a $320.00 price target on shares of Labcorp in a research report on Tuesday, October 14th. JPMorgan Chase & Co. upped their target price on Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Mizuho lifted their price target on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Weiss Ratings cut Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, December 29th. Finally, Robert W. Baird set a $313.00 target price on Labcorp in a research note on Wednesday, January 14th. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.77.

Labcorp Stock Down 1.2%

Shares of NYSE:LH opened at $266.72 on Friday. Labcorp has a 52-week low of $209.38 and a 52-week high of $293.72. The stock has a market cap of $22.11 billion, a P/E ratio of 26.20, a price-to-earnings-growth ratio of 1.70 and a beta of 1.00. The business’s 50 day moving average is $260.36 and its 200 day moving average is $266.20. The company has a quick ratio of 1.35, a current ratio of 1.55 and a debt-to-equity ratio of 0.59.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.13 by $0.05. The business had revenue of $3.56 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 business’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.50 EPS. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Sell-side analysts predict that Labcorp will post 16.01 EPS for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Friday, February 27th will be paid a $0.72 dividend. The ex-dividend date is Friday, February 27th. This represents a $2.88 dividend on an annualized basis and a yield of 1.1%. Labcorp’s dividend payout ratio (DPR) is 28.29%.

Insider Activity at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the transaction, the chief executive officer owned 87,574 shares in the company, valued at approximately $23,010,068.50. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of Labcorp stock in a transaction on Friday, October 31st. The stock was sold at an average price of $254.28, for a total transaction of $1,782,248.52. Following the sale, the director owned 2,469 shares of the company’s stock, valued at $627,817.32. The trade was a 73.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. SP Asset Management LLC lifted its holdings in shares of Labcorp by 0.3% during the second quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock worth $3,722,000 after purchasing an additional 38 shares during the period. HBK Sorce Advisory LLC raised its position in Labcorp by 4.3% during the 3rd quarter. HBK Sorce Advisory LLC now owns 916 shares of the medical research company’s stock worth $254,000 after buying an additional 38 shares during the last quarter. Pure Financial Advisors LLC lifted its stake in Labcorp by 3.9% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,017 shares of the medical research company’s stock valued at $292,000 after acquiring an additional 38 shares during the period. Highland Capital Management LLC boosted its holdings in shares of Labcorp by 0.3% in the 2nd quarter. Highland Capital Management LLC now owns 15,322 shares of the medical research company’s stock valued at $4,022,000 after acquiring an additional 40 shares during the last quarter. Finally, Zions Bancorporation National Association UT boosted its holdings in shares of Labcorp by 21.9% in the 2nd quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock valued at $59,000 after acquiring an additional 40 shares during the last quarter. 95.94% of the stock is owned by institutional investors and hedge funds.

Labcorp Company Profile

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.