Labcorp (NYSE:LH) Cut to “Hold” at Wall Street Zen

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

Several other equities research analysts also recently commented on the stock. Mizuho increased their price objective on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. JPMorgan Chase & Co. upped their target price on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. UBS Group reduced their price target on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, October 29th. Truist Financial set a $320.00 price objective on shares of Labcorp in a research note on Tuesday, October 14th. Finally, Robert W. Baird set a $304.00 price objective on shares of Labcorp in a report on Wednesday, October 29th. Ten equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $299.08.

Labcorp Trading Down 0.6%

Shares of NYSE:LH opened at $250.26 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. Labcorp has a 1 year low of $209.38 and a 1 year high of $293.72. The company has a market cap of $20.75 billion, a P/E ratio of 24.58, a PEG ratio of 1.59 and a beta of 1.00. The stock’s fifty day moving average price is $258.95 and its 200-day moving average price is $265.90.

Labcorp (NYSE:LH) last announced its earnings results on Tuesday, October 28th. The medical research company reported $4.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.13 by $0.05. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.56 billion. During the same period in the previous year, the business posted $3.50 earnings per share. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Sell-side analysts expect that Labcorp will post 16.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richelle P. Parham sold 7,009 shares of the company’s stock in a transaction dated 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 completion of the sale, the director owned 2,469 shares in the company, valued at approximately $627,817.32. This represents a 73.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Adam H. Schechter sold 5,745 shares of the stock in a transaction that occurred 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 owned 87,574 shares in the company, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Labcorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in shares of Labcorp in the fourth quarter worth $991,000. Integrated Wealth Concepts LLC increased its stake in Labcorp by 7.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after buying an additional 177 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Labcorp by 52.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock valued at $82,353,000 after buying an additional 121,304 shares during the last quarter. Focus Partners Wealth lifted its position in Labcorp by 1.5% during the 1st quarter. Focus Partners Wealth now owns 16,328 shares of the medical research company’s stock worth $3,800,000 after buying an additional 234 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Labcorp by 245.3% during the 1st quarter. Intech Investment Management LLC now owns 11,120 shares of the medical research company’s stock worth $2,588,000 after buying an additional 7,900 shares during the last quarter. Institutional investors own 95.94% of the company’s stock.

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.