Labcorp Holdings Inc. (NYSE:LH – Get Free Report) hit a new 52-week high during mid-day trading 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.
Analyst Ratings Changes
Several brokerages have recently commented on LH. Weiss Ratings upgraded shares of Labcorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, July 24th. Piper Sandler increased their target price on shares of Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays lifted their price target on shares of Labcorp from $290.00 to $320.00 and gave the company an “equal weight” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price target on shares of Labcorp from $308.00 to $338.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Finally, Truist Financial upped their price objective on shares of Labcorp from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $326.82.
Get Our Latest Analysis on Labcorp
Labcorp Trading Down 0.0%
Labcorp (NYSE:LH – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The medical research company reported $4.99 EPS for the quarter, topping the consensus estimate of $4.78 by $0.21. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. Labcorp’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.35 EPS. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. On average, research analysts expect that Labcorp Holdings Inc. will post 18.35 earnings per share for the current fiscal year.
Labcorp Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be paid a $0.72 dividend. 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 presently 23.82%.
Insider Buying and Selling at Labcorp
In other Labcorp news, EVP Kathryn W. Kyle sold 92 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total transaction of $26,329.48. Following the completion of the sale, the executive vice president owned 3,904 shares in the company, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 Bryan T. Vaughn sold 234 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $66,968.46. Following the completion of the transaction, the executive vice president directly owned 6,746 shares in the company, valued at approximately $1,930,637.74. This trade represents a 3.35% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 7,915 shares of company stock worth $2,080,123 over the last quarter. 0.84% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Labcorp
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in Labcorp during the 4th quarter worth approximately $991,000. Integrated Wealth Concepts LLC increased its stake in Labcorp by 7.9% in the first quarter. Integrated Wealth Concepts LLC now owns 2,427 shares of the medical research company’s stock valued at $565,000 after purchasing an additional 177 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Labcorp by 52.2% in the first quarter. Goldman Sachs Group Inc. now owns 353,843 shares of the medical research company’s stock worth $82,353,000 after purchasing an additional 121,304 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Labcorp in the second quarter worth $5,873,000. Finally, First Trust Advisors LP boosted its position in shares of Labcorp by 83.2% during the second quarter. First Trust Advisors LP now owns 86,046 shares of the medical research company’s stock worth $22,588,000 after purchasing an additional 39,087 shares in 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.
Featured Stories
- Five stocks we like better than Labcorp
- Amprius Technologies Validates Growth Trajectory With Q2 Earnings—What Comes Next?
- Boeing’s Comeback Is Building Momentum—Is It Real?
- Blueprint for a Banking Fortress: Circle Redraws the Map
- Bed Bath & Beyond Renovates: The Neighborhood Blueprint
Receive News & Ratings for Labcorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Labcorp and related companies with MarketBeat.com's FREE daily email newsletter.
