Labcorp (NYSE:LH) Hits New 1-Year High – Here’s What Happened

Labcorp Holdings Inc. (NYSE:LH)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $338.73 and last traded at $338.73, with a volume of 265 shares changing hands. The stock had previously closed at $336.34.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LH. Piper Sandler boosted their price target on shares of Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Bank of America boosted their price target on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Barclays increased their price objective on Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Finally, Morgan Stanley raised their target price on shares of Labcorp from $308.00 to $338.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Labcorp currently has a consensus rating of “Moderate Buy” and an average target price of $330.00.

Labcorp Price Performance

The company has a market capitalization of $27.47 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 1.95 and a beta of 0.87. 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 business has a fifty day moving average price of $292.52 and a 200 day moving average price of $276.80.

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

Labcorp Dividend Announcement

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

Insider Transactions at Labcorp

In related news, EVP Bryan T. Vaughn sold 234 shares of the 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 completion of the sale, the executive vice president owned 6,746 shares in the company, valued at $1,930,637.74. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, EVP Amy B. Summy sold 924 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $306.74, for a total value of $283,427.76. Following the sale, the executive vice president owned 6,956 shares of the company’s stock, valued at approximately $2,133,683.44. The trade was a 11.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,681 shares of company stock valued at $3,027,677. 0.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Labcorp

Institutional investors have recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Labcorp in the third quarter worth $28,000. Hilton Head Capital Partners LLC bought a new stake in Labcorp during the fourth quarter valued at $27,000. DV Equities LLC bought a new stake in shares of Labcorp in the 4th quarter valued at $29,000. Allied Private Wealth LLC acquired a new stake in Labcorp in the second quarter valued at approximately $33,000. Finally, Headlands Technologies LLC raised its holdings in Labcorp by 300.0% during the second quarter. Headlands Technologies LLC now owns 128 shares of the medical research company’s stock worth $34,000 after buying an additional 96 shares during the last quarter. 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.