Labcorp Holdings stock hits 52-week high at 284.88 USD

Labcorp Holdings Inc. (LH) stock reached a 52-week high, trading at 284.88 USD. With a market capitalization of $23.61 billion, this milestone reflects a significant upward trajectory for the company, as the stock has experienced a 29.59% increase over the past year. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with a strong financial health score rated as "GOOD." The climb to this 52-week high underscores investor confidence and the company’s robust performance in the healthcare sector, with revenue growth of 7.98% and a P/E ratio of 31.35. Labcorp’s latest achievement highlights its resilience and adaptability in a competitive market landscape, drawing attention from both analysts and investors keen on its potential for further growth. For deeper insights and additional ProTips, including volatility metrics and growth forecasts, explore the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Labcorp has completed its acquisition of select oncology assets from BioReference Health, a subsidiary of OPKO Health, for a total of up to $225 million. This acquisition includes laboratory testing businesses specializing in oncology services across the United States, with an initial payment of $192.5 million and a potential earnout of $32.5 million based on performance. Additionally, Labcorp announced the nationwide availability of the Lumipulse pTau-217/Beta Amyloid 42 Ratio, the first FDA-cleared blood test designed to aid in diagnosing Alzheimer’s disease, offering a less invasive alternative to traditional diagnostic methods.

In collaboration with Roche, Labcorp is implementing FDA-cleared digital pathology scanners to address the projected shortage of pathologists in the U.S. by 2030. Analysts at Jefferies have raised their price target for Labcorp to $300, citing a 1% top-line beat in its quarterly results and a 6% upside in the Base Business segment. The company’s book-to-bill ratio also showed improvement. Evercore ISI also increased its price target for Labcorp to $300, highlighting strong diagnostic growth from both organic sources and recent acquisitions. These developments underscore Labcorp’s strategic moves and market performance in recent times.

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