Labcorp (NYSE:LH) Stock Rating Upgraded by Wall Street Zen

by · The Cerbat Gem

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

LH has been the subject of several other research reports. Robert W. Baird set a $304.00 price target on shares of Labcorp in a research note on Wednesday, October 29th. Mizuho lifted their target price on Labcorp from $285.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Evercore ISI boosted their target price on Labcorp from $300.00 to $305.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. JPMorgan Chase & Co. increased 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. Finally, UBS Group decreased their price objective on Labcorp from $325.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, October 29th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $299.08.

Get Our Latest Stock Analysis on LH

Labcorp Stock Performance

Shares of Labcorp stock opened at $252.01 on Friday. The stock has a market capitalization of $20.89 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.55 and a quick ratio of 1.35. The business has a 50-day moving average of $265.44 and a 200 day moving average of $266.58. Labcorp has a 12 month low of $209.38 and a 12 month high of $293.72.

Labcorp (NYSE:LH – Get Free Report) last issued 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. Labcorp had a net margin of 6.21% and a return on equity of 15.85%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.56 billion. During the same period in the prior year, the firm earned $3.50 earnings per share. The business’s revenue for the quarter was up 8.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.150-16.500 EPS. As a group, sell-side analysts forecast that Labcorp will post 16.01 earnings per share for the current year.

Insider Activity

In related news, CEO Adam H. Schechter sold 5,745 shares of the company’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $262.75, for a total value of $1,509,498.75. Following the completion of the sale, the chief executive officer directly owned 87,574 shares of the company’s stock, valued at $23,010,068.50. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richelle P. Parham sold 7,009 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $254.28, for a total value of $1,782,248.52. Following the transaction, 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 insiders.

Institutional Investors Weigh In On Labcorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Labcorp by 7.7% during the second 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 purchasing an additional 11,262 shares during the period. Franklin Resources Inc. grew its holdings in Labcorp by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 34,331 shares of the medical research company’s stock valued at $9,012,000 after purchasing an additional 1,043 shares in the last quarter. Aberdeen Group plc increased its stake in Labcorp by 5.1% during the 2nd quarter. Aberdeen Group plc now owns 74,621 shares of the medical research company’s stock worth $19,589,000 after buying an additional 3,599 shares during the period. Equitable Trust Co. increased its stake in Labcorp by 3.5% during the 2nd quarter. Equitable Trust Co. now owns 77,427 shares of the medical research company’s stock worth $20,325,000 after buying an additional 2,644 shares during the period. Finally, Choreo LLC lifted its holdings in Labcorp by 83.8% in the 2nd quarter. Choreo LLC now owns 5,546 shares of the medical research company’s stock worth $1,456,000 after buying an additional 2,529 shares in the last quarter. 95.94% of the stock is owned by hedge funds and other 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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