Labcorp (NYSE:LH) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Labcorp Holdings Inc. (NYSE:LH)’s share price passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $287.10 and traded as high as $315.48. Labcorp shares last traded at $314.5420, with a volume of 701,493 shares traded.

Analyst Upgrades and Downgrades

LH has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of Labcorp from $300.00 to $309.00 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Wall Street Zen upgraded shares of Labcorp from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Robert W. Baird set a $352.00 target price on Labcorp in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $306.00 target price on shares of Labcorp in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Labcorp from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $337.73.

Labcorp Trading Down 0.7%

The company has a debt-to-equity ratio of 0.69, a current ratio of 1.80 and a quick ratio of 1.53. The firm has a market capitalization of $25.30 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 1.79 and a beta of 0.87. The business’s 50-day moving average price is $320.21 and its 200-day moving average price is $287.27.

Labcorp (NYSE:LH) last released 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 business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.71 billion. Labcorp had a return on equity of 16.74% and a net margin of 6.99%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.35 earnings per share. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. As a group, analysts expect that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Amy Summy sold 924 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $306.74, for a total value of $283,427.76. Following the sale, the executive vice president directly owned 6,956 shares in the company, valued at $2,133,683.44. This represents a 11.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kerrii Anderson sold 3,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $318.02, for a total value of $954,060.00. Following the sale, the director owned 6,563 shares in the company, valued at approximately $2,087,165.26. This trade represents a 31.37% decrease in their position. 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 8,593 shares of company stock worth $2,733,295 over the last ninety days. 0.84% of the stock is currently owned by insiders.

Institutional Trading of Labcorp

A number of institutional investors and hedge funds have recently made changes to their positions in LH. Lawood & Co. boosted its position in Labcorp by 8.2% in the 3rd quarter. Lawood & Co. now owns 991 shares of the medical research company’s stock valued at $305,000 after buying an additional 75 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Labcorp by 25.9% during the third quarter. GAMMA Investing LLC now owns 6,401 shares of the medical research company’s stock worth $1,972,000 after acquiring an additional 1,317 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Labcorp by 7.7% in the third quarter. Farther Finance Advisors LLC now owns 3,710 shares of the medical research company’s stock worth $1,143,000 after acquiring an additional 265 shares in the last quarter. CoreCap Advisors LLC lifted its stake in shares of Labcorp by 13.8% in the third quarter. CoreCap Advisors LLC now owns 289 shares of the medical research company’s stock worth $89,000 after acquiring an additional 35 shares in the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in Labcorp by 1.2% in the third quarter. Valeo Financial Advisors LLC now owns 4,387 shares of the medical research company’s stock valued at $1,352,000 after purchasing an additional 52 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Labcorp Company Profile

Labcorp (NYSE:LH), formally Laboratory Corporation of America Holdings, is a global life sciences and laboratory services company headquartered in Burlington, North Carolina. The company provides diagnostic testing, drug development services and technology-enabled laboratory solutions to healthcare providers, pharmaceutical and biotechnology companies, government agencies and consumers.

Its diagnostics business offers routine and specialty laboratory testing, including testing related to oncology, women’s health, infectious diseases, genetics and genomics.