Labcorp (NYSE: LH), a leader of innovative and comprehensive laboratory services, said this week its Board of Directors had authorized a quarterly cash dividend of $0.72 per share of common stock.

The dividend will be paid on June 12th to shareholders of record as of the close of business on May 28th 2024, the company said.

Stock Performance

The shares of Laboratory Corporation of America Holdings (LH) closed 0.32% ($0.67) lower at $206.50 in New York on Thursday, as they extended the losses from the previous three market sessions.

The company’s total market cap now stands at $17.372 billion.

The shares of Laboratory Corporation of America Holdings (LH) went down 3.48% in 2023, compared with a 24.23% gain for the benchmark index, S&P 500 (SPX).

The company’s shares have retreated 9.15% so far this year.

Analyst stock price forecast and recommendation

According to TipRanks, at least 6 out of 9 surveyed investment analysts had rated Laboratory Corporation of America Holdings’ stock as “Buy”, while 3 – as “Hold”. The median price target on the stock stands at $243.56, which translates into a 17.95% upside compared to the closing price on Thursday.

The high point of the analyst forecast range stands at $260.00.

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