Ossiam Increases Position in Laboratory Co. of America Holdings (NYSE:LH)

Ossiam increased its position in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 2,051.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,892 shares of the medical research company's stock after purchasing an additional 52,341 shares during the period. Ossiam owned approximately 0.07% of Laboratory Co. of America worth $12,588,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Laboratory Co. of America in the 4th quarter valued at $239,811,000. Amundi increased its stake in Laboratory Co. of America by 344.9% in the 4th quarter. Amundi now owns 1,123,409 shares of the medical research company's stock worth $263,161,000 after buying an additional 870,903 shares during the period. Madison Investment Advisors LLC bought a new stake in Laboratory Co. of America during the 4th quarter valued at about $123,415,000. Alliancebernstein L.P. raised its stake in shares of Laboratory Co. of America by 59.4% during the fourth quarter. Alliancebernstein L.P. now owns 1,021,104 shares of the medical research company's stock valued at $234,160,000 after acquiring an additional 380,624 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings 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 valued at $431,405,000 after purchasing an additional 167,137 shares during the period. 95.94% of the stock is currently owned by institutional investors.

Laboratory Co. of America Stock Performance

Shares of LH traded up $2.48 during mid-day trading on Thursday, reaching $226.62. The company had a trading volume of 391,394 shares, compared to its average volume of 637,106. The stock has a market capitalization of $18.96 billion, a P/E ratio of 25.69, a PEG ratio of 1.71 and a beta of 0.99. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $258.59. The stock has a 50 day moving average of $236.02 and a two-hundred day moving average of $234.78. 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 posted its earnings results 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 net margin of 5.73% and a return on equity of 15.29%. On average, analysts expect that Laboratory Co. of America Holdings will post 16.01 earnings per share for the current year.

Laboratory Co. of America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Thursday, May 29th will be paid a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a dividend yield of 1.27%. Laboratory Co. of America's payout ratio is currently 32.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Laboratory Co. of America from $260.00 to $240.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. StockNews.com lowered shares of Laboratory Co. of America from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Truist Financial lowered their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Citigroup raised Laboratory Co. of America from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $250.00 to $300.00 in a research report on Tuesday, March 4th. Finally, UBS Group decreased their price target on Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating for the company in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $268.77.

Insider Activity

In related news, Director Kerrii B. Anderson sold 500 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $255.63, for a total transaction of $127,815.00. Following the completion of the transaction, the director now owns 13,166 shares in the company, valued at $3,365,624.58. This represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $231.67, for a total value of $175,605.86. Following the completion of the sale, the executive vice president now owns 5,302 shares in the company, valued at approximately $1,228,314.34. The trade was a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,258 shares of company stock worth $3,518,177 in the last ninety days. Company insiders own 0.84% of the company's stock.

About Laboratory Co. of America

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