Amundi Has $263.16 Million Stock Position in Laboratory Co. of America Holdings (NYSE:LH)

Amundi boosted its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 344.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,123,409 shares of the medical research company's stock after acquiring an additional 870,903 shares during the quarter. Amundi owned approximately 1.34% of Laboratory Co. of America worth $263,161,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Laboratory Co. of America by 0.7% during the 3rd quarter. State Street Corp now owns 3,726,627 shares of the medical research company's stock valued at $832,827,000 after purchasing an additional 25,469 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Laboratory Co. of America by 1.5% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,978,686 shares of the medical research company's stock valued at $442,197,000 after buying an additional 29,046 shares in the last quarter. Geode Capital Management LLC raised its holdings in Laboratory Co. of America by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,964,743 shares of the medical research company's stock valued at $437,561,000 after buying an additional 13,298 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Laboratory Co. of America by 9.5% in the third quarter. JPMorgan Chase & Co. now owns 1,930,395 shares of the medical research company's stock worth $431,405,000 after buying an additional 167,137 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Laboratory Co. of America by 2.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,916,505 shares of the medical research company's stock worth $437,357,000 after acquiring an additional 51,045 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America raised their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Morgan Stanley boosted their price objective on shares of Laboratory Co. of America from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Evercore ISI upgraded shares of Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the company from $260.00 to $265.00 in a research note on Tuesday, January 7th. Barclays cut their target price on shares of Laboratory Co. of America from $271.00 to $260.00 and set an "equal weight" rating for the company in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Laboratory Co. of America from a "hold" rating to a "buy" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of "Moderate Buy" and an average price target of $268.38.

Insiders Place Their Bets

In related news, CMO Amy B. Summy sold 226 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $250.40, for a total transaction of $56,590.40. Following the transaction, the chief marketing officer now owns 4,544 shares in the company, valued at $1,137,817.60. This represents a 4.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Adam H. Schechter sold 6,121 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $244.62, for a total transaction of $1,497,319.02. Following the sale, the chief executive officer now directly owns 86,445 shares in the company, valued at approximately $21,146,175.90. This represents a 6.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,500 shares of company stock valued at $3,577,572. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Stock Performance

Laboratory Co. of America stock traded down $2.56 on Wednesday, hitting $236.69. The company's stock had a trading volume of 985,864 shares, compared to its average volume of 631,759. The company has a fifty day moving average price of $244.18 and a 200-day moving average price of $233.91. The firm has a market cap of $19.81 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. Laboratory Co. of America Holdings has a one year low of $191.97 and a one year high of $258.59. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.67.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share for the quarter, beating the consensus estimate of $3.40 by $0.05. Laboratory Co. of America had a return on equity of 15.29% and a net margin of 5.73%. On average, equities analysts anticipate that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Investors of record on Thursday, February 27th will be issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Thursday, February 27th. Laboratory Co. of America's dividend payout ratio is currently 32.65%.

Laboratory Co. of America Company Profile

Labcorp Holdings, Inc engages in providing medical testing services. The company was founded on April 16, 2024 and is headquartered in Burlington, NC.