Labcorp (NYSE:LH) Hits New 12-Month High - Here's Why

Key Points

• Labcorp's stock reached a new 52-week high of $283.47 during trading, closing at $282.99 with a total volume of 52,801 shares.
• Wall Street analysts largely view Labcorp positively, with a consensus rating of "Moderate Buy" and an average target price of $290.33.
• The company recently declared a quarterly dividend of $0.72 per share, resulting in an annualized yield of 1.0% and reflecting a 31.79% payout ratio.

Labcorp Holdings Inc. (NYSE:LH - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $283.47 and last traded at $282.99, with a volume of 52801 shares traded. The stock had previously closed at $278.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Labcorp from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays reissued a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Evercore ISI lifted their target price on shares of Labcorp from $285.00 to $300.00 and gave the stock an "outperform" rating in a report on Friday, July 25th. Morgan Stanley boosted their price objective on shares of Labcorp from $283.00 to $306.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Hsbc Global Res cut shares of Labcorp from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 10th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $290.33.

Labcorp Stock Up 0.5%

The firm has a market capitalization of $23.28 billion, a P/E ratio of 30.92, a PEG ratio of 1.77 and a beta of 0.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The business's fifty day moving average price is $268.48 and its two-hundred day moving average price is $252.08.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 24th. The medical research company reported $4.35 EPS for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. Labcorp had a net margin of 5.66% and a return on equity of 15.45%. The company had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same period last year, the business earned $3.94 EPS. Labcorp's revenue for the quarter was up 9.6% on a year-over-year basis. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. Equities analysts expect that Labcorp Holdings Inc. will post 16.01 earnings per share for the current fiscal year.

Labcorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Investors of record on Thursday, August 28th were paid a $0.72 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $2.88 dividend on an annualized basis and a yield of 1.0%. Labcorp's dividend payout ratio (DPR) is currently 31.79%.

Insider Activity at Labcorp

In other news, Director Kerrii B. Anderson sold 3,500 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $280.00, for a total transaction of $980,000.00. Following the transaction, the director owned 8,666 shares of the company's stock, valued at approximately $2,426,480. The trade was a 28.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight Gary Gilliland sold 2,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares in the company, valued at approximately $1,763,507.20. The trade was a 23.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,546 shares of company stock worth $4,207,192 over the last 90 days. 0.84% of the stock is owned by insiders.

Institutional Trading of Labcorp

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caldwell Trust Co acquired a new position in Labcorp in the second quarter valued at approximately $25,000. Osaic Holdings Inc. lifted its stake in shares of Labcorp by 13.8% in the 2nd quarter. Osaic Holdings Inc. now owns 38,620 shares of the medical research company's stock worth $10,025,000 after acquiring an additional 4,690 shares during the period. Orion Porfolio Solutions LLC lifted its stake in shares of Labcorp by 3.3% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 14,580 shares of the medical research company's stock worth $3,827,000 after acquiring an additional 465 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Labcorp by 25.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 517,396 shares of the medical research company's stock worth $135,821,000 after acquiring an additional 105,453 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Labcorp in the second quarter worth $210,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

About Labcorp

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.

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