Labcorp (NYSE:LH) Hits New 12-Month High – What’s Next?

Labcorp Holdings Inc. (NYSE:LH)’s share price reached a new 52-week high on Thursday . The company traded as high as $316.86 and last traded at $313.4680, with a volume of 19410 shares changing hands. The stock had previously closed at $313.96.

Wall Street Analysts Forecast Growth

LH has been the subject of several analyst reports. Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $306.00 target price on shares of Labcorp in a report on Friday, July 31st. Bank of America boosted their price target on Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Barclays increased their price objective on Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Finally, Weiss Ratings raised Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Labcorp has an average rating of “Moderate Buy” and a consensus target price of $326.82.

Labcorp Trading Down 0.0%

The stock has a market capitalization of $25.74 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 1.80 and a beta of 0.87. The company’s 50 day moving average is $277.86 and its 200 day moving average is $272.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.53 and a current ratio of 1.80.

Labcorp (NYSE:LH) last posted its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the business posted $4.35 EPS. The business’s quarterly revenue 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 forecast that Labcorp Holdings Inc. will post 18.35 EPS for the current fiscal 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 given a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 0.9%. Labcorp’s dividend payout ratio (DPR) is 23.82%.

Insider Transactions at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 762 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $263.89, for a total value of $201,084.18. Following the completion of the transaction, the executive vice president owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Amy B. Summy sold 924 shares of the firm’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 value of $283,427.76. Following the completion of the sale, the executive vice president owned 6,956 shares of the company’s stock, valued at $2,133,683.44. This represents a 11.73% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 7,915 shares of company stock worth $2,080,123. Insiders own 0.84% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in Labcorp by 103.1% during the fourth quarter. Victory Capital Management Inc. now owns 5,356,825 shares of the medical research company’s stock valued at $1,343,922,000 after purchasing an additional 2,719,475 shares in the last quarter. Boston Partners acquired a new position in shares of Labcorp in the 4th quarter worth approximately $480,271,000. Norges Bank bought a new position in shares of Labcorp during the 4th quarter worth approximately $248,006,000. Wellington Management Group LLP lifted its position in shares of Labcorp by 15.9% during the 3rd 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 period. Finally, Marshall Wace LLP boosted its stake in Labcorp by 79.1% in the 3rd quarter. Marshall Wace LLP now owns 623,550 shares of the medical research company’s stock valued at $178,996,000 after buying an additional 275,454 shares in 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.