Labcorp (NYSE:LH) Sets New 52-Week High – Here’s Why

Labcorp Holdings Inc. (NYSE:LH)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $326.89 and last traded at $323.18, with a volume of 786484 shares. The stock had previously closed at $318.13.

Analyst Ratings Changes

LH has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $306.00 target price on shares of Labcorp in a research note on Friday, July 31st. Morgan Stanley upped their target price on Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. increased their price target on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Truist Financial lifted their price objective on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Barclays lifted their target price on shares of Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Nine equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $330.00.

Labcorp Stock Performance

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The firm has a fifty day moving average of $289.75 and a 200 day moving average of $275.91. The stock has a market cap of $26.83 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 1.86 and a beta of 0.87.

Labcorp (NYSE:LH) last posted its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, beating the consensus estimate of $4.78 by $0.21. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. Labcorp’s revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, sell-side analysts forecast that Labcorp Holdings Inc. will post 18.32 EPS for the current year.

Labcorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 annualized dividend and a yield of 0.9%. Labcorp’s dividend payout ratio is presently 23.82%.

Insider Buying and Selling at Labcorp

In related news, Director Kerrii B. Anderson sold 3,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $318.02, for a total transaction of $954,060.00. Following the completion of the transaction, the director directly owned 6,563 shares of the company’s stock, valued at $2,087,165.26. The trade was a 31.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy B. Summy sold 924 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total transaction of $283,427.76. Following the sale, the executive vice president owned 6,956 shares in the company, valued at $2,133,683.44. The trade was a 11.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,681 shares of company stock valued at $3,027,677. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hilton Head Capital Partners LLC acquired a new position in Labcorp in the fourth quarter valued at approximately $27,000. JPL Wealth Management LLC acquired a new stake in Labcorp during the third quarter worth approximately $28,000. DV Equities LLC acquired a new stake in Labcorp during the fourth quarter worth approximately $29,000. Allied Private Wealth LLC purchased a new stake in shares of Labcorp during the 2nd quarter worth approximately $33,000. Finally, EFG International AG acquired a new position in shares of Labcorp in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Labcorp Company Profile

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.