Labcorp (NYSE:LH) Sets New 52-Week High – Time to Buy?

Labcorp Holdings Inc. (NYSE:LH)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $323.97 and last traded at $322.6240, with a volume of 512632 shares trading hands. The stock had previously closed at $321.31.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LH shares. Truist Financial raised their price target on Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $306.00 price objective on shares of Labcorp in a research note on Friday, July 31st. Barclays lifted their target price on Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Bank of America boosted their target price on Labcorp from $300.00 to $320.00 and gave the company a “buy” rating in a report on Monday, July 13th. Finally, Robert W. Baird set a $352.00 price target on Labcorp in a research note on Friday, July 31st. Nine investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $330.00.

Labcorp Price Performance

The stock has a fifty day moving average of $285.20 and a two-hundred day moving average of $274.37. The stock has a market cap of $26.17 billion, a price-to-earnings ratio of 26.69, a price-to-earnings-growth ratio of 1.87 and a beta of 0.87. The company has a quick ratio of 1.53, a current ratio of 1.80 and a debt-to-equity ratio of 0.69.

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

Labcorp Announces Dividend

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 given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio is presently 23.82%.

Insider Activity at Labcorp

In related news, 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 value of $283,427.76. Following the sale, the executive vice president owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Adam H. Schechter sold 4,669 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the transaction, the chief executive officer directly owned 102,565 shares of the company’s stock, valued at $32,858,749.05. The trade was a 4.35% 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 ninety days, insiders sold 6,681 shares of company stock valued at $2,073,617. 0.84% of the stock is currently owned by corporate insiders.

Institutional Trading of Labcorp

Several large investors have recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new stake in shares of Labcorp in the 4th quarter worth about $27,000. JPL Wealth Management LLC purchased a new position in Labcorp during the 3rd quarter valued at about $28,000. DV Equities LLC purchased a new position in Labcorp during the 4th quarter valued at about $29,000. Allied Private Wealth LLC acquired a new position in Labcorp during the second quarter worth about $33,000. Finally, EFG International AG purchased a new stake in shares of Labcorp in the fourth quarter valued at about $33,000. Institutional investors and hedge funds 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.