Labcorp (NYSE:LH) Downgraded to “Hold” Rating by Wall Street Zen

by · The Cerbat Gem

Wall Street Zen downgraded shares of Labcorp (NYSE:LH – Free Report) from a buy rating to a hold rating in a report published on Saturday.

Other equities research analysts have also recently issued research reports about the company. Evercore ISI upped 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. Weiss Ratings downgraded shares of Labcorp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, December 29th. UBS Group lowered their target price on shares of Labcorp from $325.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, October 29th. Barclays boosted their target price on shares of Labcorp from $275.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. raised their price target on Labcorp from $291.00 to $317.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Ten equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $299.08.

View Our Latest Stock Analysis on LH

Labcorp Stock Performance

Shares of LH opened at $251.81 on Friday. Labcorp has a 52 week low of $209.38 and a 52 week high of $293.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.55. The company has a market capitalization of $20.88 billion, a PE ratio of 24.74, a PEG ratio of 1.59 and a beta of 1.00. The company’s 50 day moving average price is $259.11 and its 200 day moving average price is $265.90.

Labcorp (NYSE:LH – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The medical research company reported $4.18 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 business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.56 billion. During the same period in the previous year, the company posted $3.50 EPS. Labcorp’s revenue was up 8.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. Research analysts expect that Labcorp will post 16.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Labcorp news, CEO Adam H. Schechter sold 5,745 shares of Labcorp stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total transaction of $1,509,498.75. Following the completion of the transaction, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at approximately $23,010,068.50. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richelle P. Parham sold 7,009 shares of the business’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 completion of the sale, the director owned 2,469 shares in the company, valued at $627,817.32. This represents a 73.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.84% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Labcorp

Institutional investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Labcorp by 7.7% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 158,231 shares of the medical research company’s stock valued at $41,537,000 after buying an additional 11,262 shares during the period. Lazard Asset Management LLC increased its position in Labcorp by 224.1% in the second 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. Franklin Resources Inc. increased its position in Labcorp by 3.1% in the second quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock worth $9,012,000 after purchasing an additional 1,043 shares during the period. Equitable Trust Co. lifted its position in Labcorp by 3.5% during the 2nd quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock valued at $20,325,000 after purchasing an additional 2,644 shares during the period. Finally, Virtus Advisers LLC acquired a new position in Labcorp during the 2nd quarter valued at about $247,000. 95.94% of the stock is owned by institutional investors.

About Labcorp

(Get Free Report)

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.

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