Bank of New York Mellon Corp Cuts Stock Position in Labcorp Holdings Inc. $LH

Bank of New York Mellon Corp cut its position in Labcorp Holdings Inc. (NYSE:LH) by 6.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 536,388 shares of the medical research company’s stock after selling 37,535 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.65% of Labcorp worth $143,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. REAP Financial Group LLC boosted its holdings in Labcorp by 20.4% in the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company’s stock worth $55,000 after acquiring an additional 37 shares in the last quarter. V Square Quantitative Management LLC raised its stake in Labcorp by 1.7% in the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company’s stock worth $645,000 after acquiring an additional 40 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Labcorp by 2.6% during the 4th quarter. Hilltop Holdings Inc. now owns 1,631 shares of the medical research company’s stock worth $409,000 after acquiring an additional 41 shares during the period. Pinnacle Associates Ltd. lifted its position in Labcorp by 3.9% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock worth $282,000 after acquiring an additional 42 shares during the period. Finally, Larson Financial Group LLC grew its stake in Labcorp by 37.5% during the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 42 shares during the last quarter. 95.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Labcorp in a report on Friday, May 8th. 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 lifted their price objective on shares of Labcorp from $335.00 to $338.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Evercore reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Labcorp in a report on Wednesday, April 8th. Finally, Bank of America increased their price objective on shares of Labcorp from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Nine equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $314.40.

Labcorp Trading Up 0.1%

Shares of NYSE:LH opened at $283.63 on Monday. The company has a current ratio of 1.73, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Labcorp Holdings Inc. has a 12-month low of $241.81 and a 12-month high of $293.72. The business has a 50 day moving average of $266.22 and a two-hundred day moving average of $268.01. The company has a market capitalization of $23.26 billion, a PE ratio of 25.12, a PEG ratio of 1.88 and a beta of 0.89.

Labcorp (NYSE:LH) last issued its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.09 by $0.16. The business had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Labcorp had a net margin of 6.66% and a return on equity of 16.29%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, analysts forecast that Labcorp Holdings Inc. will post 18 EPS for the current year.

Labcorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, August 28th. Labcorp’s dividend payout ratio (DPR) is currently 25.51%.

Insider Activity at Labcorp

In other Labcorp news, EVP Kathryn W. Kyle sold 92 shares of Labcorp stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $286.19, for a total value of $26,329.48. Following the completion of the transaction, the executive vice president owned 3,904 shares of the company’s stock, valued at approximately $1,117,285.76. The trade was a 2.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Adam H. Schechter sold 5,903 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $254.50, for a total value of $1,502,313.50. Following the completion of the transaction, the chief executive officer directly owned 107,234 shares of the company’s stock, valued at $27,291,053. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 6,991 shares of company stock worth $1,796,696. 0.84% of the stock is owned by company insiders.

Labcorp Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.