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LH · Analysis updated Nov 10, 2026, 6:00 PM ET
Why is Labcorp Holdings Inc. (LH) stock moving?
Labcorp beat Q3 2026 consensus and raised full-year guidance on Oct 28, with revenue up 7% year over year, adjusted EPS guidance lifted to $18.30-$18.70 and sales guidance to $14.779B-$14.887B. The stock jumped 8.8% that day, from $331.17 to $360.25, on about 1.8M shares, more than double the typical ~0.8M daily volume. It has since held mostly between $353 and $374 and closed at $370.88 on Nov 10, about 12% above the Oct 27 close, near the 52-week high reached after earnings. Volume has eased to roughly 510K-800K shares a day, and the close sits close to the high of the post-earnings range, so the post-earnings move appears to be consolidating rather than extending. Analysts responded with a wave of target increases: UBS $420, Mizuho $400, Truist $395, Baird $396, Morgan Stanley $388 and Barclays $380 (Equal-Weight), while Deutsche Bank raised to $355 but kept Hold. Taken together, the seven listed targets run from $355 to $420, with the average near $405, roughly 9% above the current price. HSBC upgraded to Buy, though its stated $40 target conflicts with the share price and is treated as unreliable. A routine insider sale of $389,395 was disclosed Nov 3. The CFO's UBS fireside chat on Nov 10 is an event still to be digested, and the quarterly dividend of $0.72 is payable Dec 11 to holders of record on Nov 24. Risks include the stretched valuation after a 12% run and the policy headwinds the company mentioned.
News behind the analysis
- Labcorp Reports Strong 2026 Third Quarter Results; Raises Full Year 2026 GuidanceLabcorp reported Q3 2026 revenue up 7% year over year and raised its full-year 2026 guidance.
- Labcorp Holdings Raises FY2026 Adj EPS Guidance from $18.10-$18.55 to $18.30-$18.70 vs $18.36 Est; Raises FY2026 Sales Guidance from $14.710B-$14.827B to $14.779B-$14.887B vs $14.749B EstAdjusted EPS guidance was raised to $18.30-$18.70 and sales guidance to $14.779B-$14.887B, both above prior ranges and consensus estimates.
- UBS Adjusts Price Target on Labcorp to $420 From $380, Maintains Buy RatingUBS raised its price target to $420 from $380 and kept its Buy rating after the third-quarter report.
- Truist Securities Adjusts Price Target on Labcorp to $395 From $365, Keeps Buy RatingTruist raised its price target to $395 from $365 and maintained a Buy rating following the earnings report.
- Morgan Stanley Adjusts Price Target on Labcorp Holdings to $388 From $338Morgan Stanley raised its price target on Labcorp to $388 from $338.
- Barclays Maintains Equal-Weight on Labcorp Holdings, Raises Price Target to $380Barclays kept its Equal-Weight rating and raised its price target to $380 from $330.
- Mizuho Securities Adjusts Labcorp Price TargetMizuho raised its price target on Labcorp Holdings to $400 from $355.
- HSBC Upgrades Labcorp to Buy From HoldHSBC upgraded Labcorp from Hold to Buy; the stated $40 target looks inconsistent with the share price and may be a data error.
- Labcorp CFO Julia Wang to Speak at UBS Global Healthcare ConferenceCFO Julia Wang will hold a fireside chat at the UBS Global Healthcare Conference on Nov 10 at 8:45 a.m. ET, with a live webcast.
- Labcorp Holdings Insider Sold Shares Worth $389,395An insider sold Labcorp shares worth $389,395, according to a recent SEC filing.
About Labcorp Holdings Inc.
Labcorp Holdings is one of the largest clinical laboratory companies in the US. It is based in Burlington, North Carolina, and runs a huge network of labs and patient service centers that do routine and specialty medical testing. What sets it apart is that it pairs this diagnostics business with a drug-development unit (Biopharma Laboratory Services) that provides central lab and testing services for clinical trials.
How it makes money
Labcorp reports two segments. Diagnostics Laboratories is the larger one, at roughly three-quarters of revenue. It earns fees for blood work, pathology, genetic, oncology and other tests ordered by doctors, hospitals and consumers (including through Labcorp OnDemand), and it is paid mainly by insurers, Medicare/Medicaid and patients. Biopharma Laboratory Services makes up the remaining roughly quarter. It earns money from drug and biotech companies by providing central lab, early-development and other testing services for clinical trials. Full-year 2026 revenue is guided at roughly $14.8–14.9 billion. The company also pays a quarterly dividend ($0.72 per share) and buys back its own stock.
What usually moves LH
- Testing volumes and growth in specialty testing
- Medicare reimbursement changes (e.g., PAMA lab fee cuts, estimated at about $125M for 2027)
- Biopharma R&D and clinical-trial spending
- Acquisitions of hospital lab outreach businesses and other lab companies
- Margin trends from productivity and automation efforts