Amundi Has $250.58 Million Holdings in Labcorp Holdings Inc. $LH

Key Points

• Amundi has sold 50,027 shares of Labcorp Holdings Inc., reducing its stake by 4.5% to 1,073,382 shares, worth approximately $250.6 million.
• Institutional investors own nearly 96% of Labcorp, with several hedge funds increasing their stakes significantly during the first quarter of this year.
• Labcorp reported strong quarterly earnings, with an EPS of $4.35 exceeding estimates, and announced a quarterly dividend of $0.72 per share set to be paid on September 11th.

Amundi decreased its stake in shares of Labcorp Holdings Inc. (NYSE:LH - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,073,382 shares of the medical research company's stock after selling 50,027 shares during the period. Amundi owned 1.28% of Labcorp worth $250,581,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its position in Labcorp by 88.1% during the 1st quarter. Golden State Wealth Management LLC now owns 111 shares of the medical research company's stock valued at $26,000 after purchasing an additional 52 shares during the period. North Capital Inc. acquired a new position in Labcorp during the 1st quarter valued at about $27,000. TruNorth Capital Management LLC acquired a new position in Labcorp during the 1st quarter valued at about $28,000. Larson Financial Group LLC lifted its position in Labcorp by 140.4% during the 1st quarter. Larson Financial Group LLC now owns 125 shares of the medical research company's stock valued at $29,000 after purchasing an additional 73 shares during the period. Finally, Financial Gravity Asset Management Inc. acquired a new position in Labcorp during the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on LH shares. Barclays reaffirmed a "cautious" rating on shares of Labcorp in a research note on Wednesday, June 25th. Truist Financial upped their price target on Labcorp from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Hsbc Global Res cut Labcorp from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 10th. UBS Group upped their price target on Labcorp from $282.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, HSBC cut Labcorp from a "buy" rating to a "hold" rating and set a $260.00 price target for the company. in a research note on Thursday, July 10th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $290.33.

Insider Buying and Selling at Labcorp

In other news, CEO Adam H. Schechter sold 5,643 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $266.78, for a total transaction of $1,505,439.54. Following the completion of the transaction, the chief executive officer directly owned 93,319 shares of the company's stock, valued at $24,895,642.82. This trade represents a 5.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight Gary Gilliland sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $264.95, for a total transaction of $529,900.00. Following the transaction, the director directly owned 6,656 shares of the company's stock, valued at $1,763,507.20. This represents a 23.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 16,046 shares of company stock valued at $4,337,192 over the last quarter. Insiders own 0.84% of the company's stock.

Labcorp Stock Up 1.2%

NYSE LH traded up $3.28 during trading hours on Friday, reaching $278.51. 279,728 shares of the company's stock were exchanged, compared to its average volume of 429,705. The company's 50-day moving average is $264.34 and its two-hundred day moving average is $250.21. Labcorp Holdings Inc. has a one year low of $209.38 and a one year high of $283.47. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.32 and a current ratio of 1.50. The company has a market capitalization of $23.14 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85.

Labcorp (NYSE:LH - Get Free Report) last posted its earnings results on Thursday, July 24th. The medical research company reported $4.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.14 by $0.21. Labcorp had a return on equity of 15.45% and a net margin of 5.66%.The business had revenue of $3.53 billion during the quarter, compared to analysts' expectations of $3.49 billion. During the same period in the prior year, the business earned $3.94 EPS. Labcorp's revenue for the quarter was up 9.6% compared to the same quarter last year. Labcorp has set its FY 2025 guidance at 16.050-16.500 EPS. On average, analysts forecast that Labcorp Holdings Inc. will post 16.01 EPS for the current fiscal year.

Labcorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 28th. Labcorp's dividend payout ratio (DPR) is currently 31.79%.

Labcorp Profile

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