Laboratory Co. of America Holdings (NYSE:LH) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its holdings in Laboratory Co. of America Holdings (NYSE:LH) by 0.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 39,014 shares of the medical research company’s stock after acquiring an additional 172 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Laboratory Co. of America were worth $8,947,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Laboratory Co. of America in the third quarter worth $596,000. CreativeOne Wealth LLC lifted its holdings in Laboratory Co. of America by 19.7% in the 3rd quarter. CreativeOne Wealth LLC now owns 1,488 shares of the medical research company’s stock valued at $332,000 after purchasing an additional 245 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Laboratory Co. of America by 14.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,689 shares of the medical research company’s stock worth $3,953,000 after purchasing an additional 2,234 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Laboratory Co. of America by 9.2% during the third quarter. Public Sector Pension Investment Board now owns 3,572 shares of the medical research company’s stock worth $798,000 after buying an additional 300 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of Laboratory Co. of America by 3,660.0% in the third quarter. True Wealth Design LLC now owns 188 shares of the medical research company’s stock valued at $42,000 after buying an additional 183 shares during the last quarter. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LH has been the subject of several recent analyst reports. Citigroup raised shares of Laboratory Co. of America from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Tuesday, March 4th. Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $260.00 to $265.00 in a research report on Tuesday, January 7th. StockNews.com lowered Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group raised their price target on Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Piper Sandler upped their price objective on shares of Laboratory Co. of America from $240.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.92.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, CMO Amy B. Summy sold 226 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $250.40, for a total value 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. The trade was a 4.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kerrii B. Anderson sold 1,000 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $235.00, for a total transaction of $235,000.00. Following the completion of the transaction, the director now directly owns 12,722 shares of the company’s stock, valued at approximately $2,989,670. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,258 shares of company stock valued at $3,753,177 over the last quarter. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 1.2 %

LH opened at $232.80 on Tuesday. The company has a market cap of $19.49 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.30 and a current ratio of 1.44. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The firm has a 50 day moving average price of $244.68 and a 200 day moving average price of $234.78.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings data on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, topping 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%. Sell-side 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 12th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Thursday, February 27th. Laboratory Co. of America’s dividend payout ratio is presently 32.65%.

Laboratory Co. of America Profile

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