Wall Street Zen Downgrades Labcorp (NYSE:LH) to Hold

Labcorp (NYSE:LH) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Labcorp from $291.00 to $317.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Mizuho raised their price target on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Robert W. Baird set a $304.00 price target on Labcorp in a research note on Wednesday, October 29th. Barclays increased their price objective on Labcorp from $275.00 to $290.00 and gave the company an “equal weight” rating in a research report on Thursday, October 2nd. Finally, Evercore ISI boosted their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, October 3rd. Twelve research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Labcorp has a consensus rating of “Moderate Buy” and an average price target of $297.07.

Labcorp Stock Performance

Shares of LH opened at $258.30 on Friday. Labcorp has a 12-month low of $209.38 and a 12-month high of $293.72. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.59. The company has a market cap of $21.41 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The stock has a 50-day moving average price of $269.49 and a 200-day moving average price of $265.74.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Tuesday, October 28th. The medical research company reported $4.18 earnings per share for the quarter, topping the consensus estimate of $4.13 by $0.05. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.56 billion. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. Labcorp’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.50 earnings per share. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, equities analysts forecast that Labcorp will post 16.01 earnings per share for the current fiscal year.

Insider Activity at Labcorp

In related news, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $262.75, for a total value of $1,509,498.75. Following the transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at $23,010,068.50. The trade was a 6.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction on Friday, October 31st. The shares were 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. This represents a 73.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

A number of hedge funds have recently modified their holdings of the company. Harbor Asset Planning Inc. bought a new stake in shares of Labcorp in the second quarter worth about $25,000. Caldwell Trust Co purchased a new stake in Labcorp in the 2nd quarter worth approximately $25,000. Financial Gravity Companies Inc. bought a new stake in shares of Labcorp in the 2nd quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in shares of Labcorp in the 3rd quarter worth approximately $28,000. Finally, Motco purchased a new position in shares of Labcorp during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

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