Analysts have modestly raised their price target for Labcorp Holdings to $296.18 from $294.65. They cite incremental improvements in revenue growth projections, despite a slight dip in estimated profit margin.
What's in the News
- Labcorp launched the Lumipulse pTau-217/Beta Amyloid 42 Ratio test, the first FDA-cleared blood-based diagnostic to aid in Alzheimer's disease detection. This test offers a less invasive and more accessible alternative to existing methods. (Key Developments)
- The company introduced Test Finder, a generative AI tool developed with Amazon Web Services. This tool helps healthcare providers quickly identify appropriate lab tests using plain language queries. (Key Developments)
- PGDx elio tissue complete, Labcorp's solid tumor profiling test, received CE-marking under EU IVDR. This makes it the first of its kind in the EU and expands access to personalized cancer care. (Key Developments)
- Labcorp repurchased 800,000 shares, completing the buyback of over 14 million shares since December 2021, totaling $3.39 billion. (Key Developments)
Valuation Changes
- The consensus analyst price target has risen modestly to $296.18 from $294.65.
- The discount rate remains unchanged at 6.78%.
- The revenue growth projection has increased slightly, moving to 5.13% from 5.08%.
- The net profit margin has declined marginally to 8.24% from 8.27%.
- The future P/E ratio is up slightly, now at 22.62x compared to 22.46x previously.
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