Bank of New York Mellon Corp Invests $142.12 Million in Labcorp Holdings Inc. $LH

Key Points

• Bank of New York Mellon initiated a Labcorp position worth approximately $142.1 million, acquiring 507,591 shares, or about 0.62% of the company. Institutional investors collectively own 95.94% of Labcorp.
• Labcorp reported quarterly earnings of $4.99 per share, exceeding estimates of $4.78, while revenue rose 5.8% year over year to $3.73 billion. The company expects fiscal 2026 EPS of $18.10–$18.55.
• Analysts maintain a generally positive outlook, with nine Buy ratings and three Holds and an average price target of $330. Labcorp also declared a quarterly dividend of $0.72 per share, representing a 0.9% yield.

Bank of New York Mellon Corp purchased a new stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 507,591 shares of the medical research company's stock, valued at approximately $142,125,000. Bank of New York Mellon Corp owned about 0.62% of Labcorp at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. REAP Financial Group LLC raised its position in Labcorp by 20.4% in the fourth quarter. REAP Financial Group LLC now owns 218 shares of the medical research company's stock valued at $55,000 after purchasing an additional 37 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Labcorp by 1.7% during the 1st quarter. V Square Quantitative Management LLC now owns 2,418 shares of the medical research company's stock worth $645,000 after purchasing an additional 40 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of 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 purchasing an additional 41 shares during the period. Pinnacle Associates Ltd. increased its position in shares of 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 purchasing an additional 42 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company's stock valued at $44,000 after buying an additional 42 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

Labcorp Price Performance

LH stock opened at $336.03 on Monday. The business's 50-day moving average is $292.52 and its two-hundred day moving average is $276.80. 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 $27.25 billion, a P/E ratio of 27.79, a P/E/G ratio of 1.95 and a beta of 0.87. Labcorp Holdings Inc. has a 1 year low of $244.52 and a 1 year high of $338.19.

Labcorp (NYSE:LH - Get Free Report) last released its earnings results on Thursday, July 30th. The medical research company reported $4.99 earnings per share for the quarter, topping analysts' consensus estimates of $4.78 by $0.21. Labcorp had a net margin of 6.99% and a return on equity of 16.74%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the prior year, the firm earned $4.35 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. Labcorp has set its FY 2026 guidance at 18.100-18.550 EPS. Analysts anticipate that Labcorp Holdings Inc. will post 18.32 earnings per share for the current fiscal year.

Labcorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 11th. Stockholders 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 dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 28th. Labcorp's payout ratio is 23.82%.

Insider Activity

In other Labcorp news, EVP Bryan T. Vaughn sold 234 shares of the firm's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $286.19, for a total value of $66,968.46. Following the sale, the executive vice president directly owned 6,746 shares in the company, valued at $1,930,637.74. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, Director Kerrii B. Anderson sold 3,000 shares of Labcorp stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $318.02, for a total value of $954,060.00. Following the sale, the director directly owned 6,563 shares of the company's stock, valued at $2,087,165.26. This trade represents a 31.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,681 shares of company stock valued at $3,027,677. Insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

LH has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $306.00 target price on shares of Labcorp in a research report on Friday, July 31st. Piper Sandler lifted their price target on shares of Labcorp from $300.00 to $309.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Robert W. Baird set a $352.00 price target on shares of Labcorp in a research note on Friday, July 31st. Barclays upped their price objective on shares of Labcorp from $290.00 to $320.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. 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 report on Monday, July 13th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, Labcorp has an average rating of "Moderate Buy" and an average target price of $330.00.

Labcorp Company 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.

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