Labcorp (LH)

• Market cap: $20B
• 1 day: -0.09%
• 5 days: 2.59%
• 1 month: 3.30%
• 3 months: 10.89%
• 6 months: 10.56%
• Year to date: 4.54%
• 1 year: 6.98%
• 5 years: 34.78%
• 10 years: 103.50%
• Sector: Healthcare
• Industry: Medical Laboratories

About: Laboratory Corp. of America is one of the nation's two largest independent clinical laboratories, with roughly 20% of the independent lab market. The company operates approximately 2,000 patient-service centers, offering a broad range of 5,000 clinical lab tests, ranging from routine blood and urine screens to complex oncology and genomic testing.

Employees: 67,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

109% more first-time investments, than exits

New positions opened: 136 | Existing positions closed: 65

8% more funds holding

Funds holding: 840 [Q2] → 903 (+63) [Q3]

5% more capital invested

Capital invested by funds: $16.5B [Q2] → $17.2B (+$757M) [Q3]

0% more repeat investments, than reductions

Existing positions increased: 308 | Existing positions reduced: 308

4.05% less ownership

Funds ownership: 96.05% [Q2] → 92.0% (-4.05%) [Q3]

13% less funds holding in top 10

Funds holding in top 10: 8 [Q2] → 7 (-1) [Q3]

22% less call options, than puts

Call options by funds: $41.3M | Put options by funds: $52.9M

Research analyst outlook

7 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $240 1% upside
• Avg. target: $266 11% upside
• High target: $289 21% upside

7 analyst ratings

• positive: 5 71%
• neutral: 2 29%
• negative: 0 0%

Evercore ISI Group Elizabeth Anderson 33% 1-year accuracy 11 / 33 met price target	11% upside $265	Outperform Upgraded	7 Jan 2025
Morgan Stanley Ricky Goldwasser 50% 1-year accuracy 8 / 16 met price target	13% upside $270	Overweight Maintained	17 Dec 2024
B of A Securities Derik De Bruin 68% 1-year accuracy 13 / 19 met price target	14% upside $271	Buy Maintained	13 Dec 2024
Jefferies Brian Tanquilut 50% 1-year accuracy 7 / 14 met price target	15% upside $275	Buy Assumed	10 Dec 2024
Piper Sandler David Westenberg 67% 1-year accuracy 26 / 39 met price target	1% upside $240	Neutral Maintained	28 Oct 2024