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

Labcorp Holdings Inc. (NYSE:LH) shares hit a new 52-week high during trading on Monday . The company 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

Several research firms have weighed in on LH. Mizuho set a $355.00 price objective on Labcorp in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $306.00 price target on shares of Labcorp in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Labcorp from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Truist Financial boosted their target price on Labcorp from $320.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Nine research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $330.00.

Labcorp Price Performance

The stock has a market cap of $27.47 billion, a PE ratio of 28.02, a PEG ratio of 1.95 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. The business’s 50-day simple moving average is $292.52 and its 200-day simple moving average is $276.80.

Labcorp (NYSE:LH) last announced 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. Labcorp had a return on equity of 16.74% and a net margin of 6.99%.The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the prior year, the company earned $4.35 earnings per share. The firm’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 EPS for the current fiscal year.

Labcorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a $0.72 dividend. 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 (DPR) is presently 23.82%.

Insider Buying and Selling

In related news, CEO Adam H. Schechter sold 4,669 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $320.37, for a total value of $1,495,807.53. Following the completion of the sale, the chief executive officer directly owned 102,565 shares in the company, valued at $32,858,749.05. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kathryn W. Kyle sold 762 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $263.89, for a total transaction of $201,084.18. Following the sale, the executive vice president directly owned 3,813 shares of the company’s stock, valued at $1,006,212.57. This represents a 16.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,681 shares of company stock valued at $3,027,677 in the last 90 days. Insiders own 0.84% of the company’s stock.

Hedge Funds Weigh In On Labcorp

Several institutional investors have recently bought and sold shares of the business. California State Teachers Retirement System raised its holdings in shares of Labcorp by 28,952.8% in the second quarter. California State Teachers Retirement System now owns 35,002,800 shares of the medical research company’s stock worth $9,800,784,000 after buying an additional 34,882,320 shares during the last quarter. Victory Capital Management Inc. lifted its holdings 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 valued at $1,343,922,000 after buying an additional 2,719,475 shares during the period. Boston Partners acquired a new position in shares of Labcorp in the 4th quarter valued at $480,271,000. Norges Bank acquired a new stake in shares of Labcorp during the 4th quarter valued at about $248,006,000. Finally, Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Labcorp in the 2nd quarter valued at $168,222,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

About Labcorp

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.