Is Labcorp Holdings Stock Underperforming the Nasdaq?

Labcorp Holdings Inc. (LH), headquartered in Burlington, North Carolina, provides laboratory services. Valued at $21.7 billion by market cap, the company specializes in providing clinical lab tests for allergies, genetics and genomics, colorectal cancer, diabetes, chronic kidney disease, and pregnancy, as well as clinical trials for oncology and COVID-19.

Companies worth $10 billion or more are generally described as “large-cap stocks,” and LH perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the diagnostics & research industry. LH leads with 5,000+ tests, including oncology and genomics, plus a broad patient-service center network. The mix of scale, advanced offerings, and accessibility strengthens retention and drives growth.

Despite its notable strength, LH shares have slipped 11.6% from their 52-week high of $293.72, achieved on Oct. 21, 2025. Over the past three months, LH stock has declined 4.1%, underperforming the Nasdaq Composite’s ($NASX) 15.8% gains during the same time frame.

Shares of LH rose 3.5% on a YTD basis and climbed marginally over the past 52 weeks, underperforming NASX’s YTD gains of 12% and 33.3% returns over the last year.

To confirm the bearish trend, LH has been trading below its 50-day and 200-day moving averages since early March, experiencing some fluctuations. 

On Apr. 30, LH shares closed down marginally after reporting its Q1 results. Its adjusted EPS of $4.25 beat Wall Street expectations of $4.09. The company’s revenue was $3.54 billion, beating Wall Street forecasts of $3.50 billion. LH expects full-year adjusted EPS in the range of $17.70 to $18.35.

In the competitive arena of diagnostics & research, Quest Diagnostics Incorporated (DGX) has taken the lead over LH, showing resilience with 14% gains on a YTD basis and a 10.5% uptick over the past 52 weeks.

Wall Street analysts are bullish on LH’s prospects. The stock has a consensus “Strong Buy” rating from the 18 analysts covering it, and the mean price target of $311.12 suggests a potential upside of 19.9% from current price levels.