Labcorp (NYSE:LH) Price Target Raised to $330.00

Labcorp (NYSE:LH) had its price objective increased by JPMorgan Chase & Co. from $319.00 to $330.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the medical research company’s stock.

LH has been the subject of several other reports. Morgan Stanley reiterated an “overweight” rating on shares of Labcorp in a research report on Tuesday. Weiss Ratings upgraded shares of Labcorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 10th. UBS Group reduced their price objective on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Robert W. Baird increased their target price on shares of Labcorp from $313.00 to $326.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.75.

Labcorp Price Performance

Shares of NYSE:LH opened at $282.57 on Wednesday. The firm has a market capitalization of $23.43 billion, a PE ratio of 27.01, a P/E/G ratio of 1.93 and a beta of 1.03. The company has a quick ratio of 1.35, a current ratio of 1.42 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $265.50 and a two-hundred day moving average price of $269.21. Labcorp has a twelve month low of $209.38 and a twelve month high of $293.72.

Labcorp (NYSE:LH) last announced its quarterly earnings results on Tuesday, February 17th. The medical research company reported $4.07 EPS for the quarter, beating analysts’ consensus estimates of $3.95 by $0.12. Labcorp had a net margin of 6.28% and a return on equity of 16.16%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the prior year, the company posted $3.45 EPS. Labcorp’s revenue was up 5.6% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.550-18.250 EPS. Equities analysts forecast that Labcorp will post 16.01 EPS for the current year.

Labcorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Friday, February 27th will be given a dividend of $0.72 per share. The ex-dividend date is Friday, February 27th. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. Labcorp’s dividend payout ratio is 27.53%.

Insider Transactions at Labcorp

In other Labcorp news, CEO Adam H. Schechter sold 5,273 shares of Labcorp stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 87,343 shares of the company’s stock, valued at approximately $24,838,602.34. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan C. Meltzer sold 87 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $290.42, for a total transaction of $25,266.54. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Large investors have recently added to or reduced their stakes in the business. REAP Financial Group LLC grew its stake in shares of Labcorp by 20.4% during the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock valued at $55,000 after buying an additional 37 shares during the last quarter. SP Asset Management LLC boosted its holdings in Labcorp by 0.3% during the 2nd quarter. SP Asset Management LLC now owns 14,177 shares of the medical research company’s stock valued at $3,722,000 after acquiring an additional 38 shares during the period. HBK Sorce Advisory LLC grew 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 acquiring an additional 38 shares during the last quarter. Pure Financial Advisors LLC increased its stake in Labcorp by 3.9% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,017 shares of the medical research company’s stock worth $292,000 after purchasing an additional 38 shares during the period. Finally, Zions Bancorporation National Association UT lifted its position in Labcorp by 21.9% in the second quarter. Zions Bancorporation National Association UT now owns 223 shares of the medical research company’s stock valued at $59,000 after purchasing an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

About Labcorp

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.