Labcorp (NYSE:LH) Hits New 52-Week High – Here’s What Happened

Labcorp Holdings Inc. (NYSE:LH)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $315.77 and last traded at $314.8220, with a volume of 1136209 shares. The stock had previously closed at $301.17.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Evercore reissued an “outperform” rating and set a $300.00 target price on shares of Labcorp in a research note on Wednesday, April 8th. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Bank of America raised their price target on shares of Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Robert W. Baird lifted their price target on Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $315.33.

Labcorp Stock Up 4.5%

The company has a market cap of $25.82 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 2.00 and a beta of 0.89. The stock has a 50-day simple moving average of $271.54 and a 200-day simple moving average of $269.92. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68.

Labcorp (NYSE:LH) last issued its quarterly earnings results on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.16. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period last year, the company earned $3.84 earnings per share. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, analysts predict that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders 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 (DPR) is presently 25.51%.

Insiders Place Their Bets

In other Labcorp news, EVP Bryan T. Vaughn sold 234 shares of the business’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $254.50, for a total transaction of $1,502,313.50. Following the completion of the sale, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at approximately $27,291,053. This represents a 5.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Labcorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Labcorp by 103.1% in the 4th quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock worth $1,343,922,000 after purchasing an additional 2,719,475 shares during the last quarter. Boston Partners bought a new stake in Labcorp during the fourth quarter worth approximately $480,271,000. Norges Bank bought a new stake in Labcorp during the fourth quarter worth approximately $248,006,000. Wellington Management Group LLP grew its position in Labcorp by 15.9% in the third quarter. Wellington Management Group LLP now owns 2,105,791 shares of the medical research company’s stock worth $604,488,000 after buying an additional 289,029 shares during the last quarter. Finally, Marshall Wace LLP grew its position in Labcorp by 79.1% in the third quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock worth $178,996,000 after buying an additional 275,454 shares during the last quarter. 95.94% of the stock is owned by institutional investors.

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.