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

Nomura Asset Management Co. Ltd. raised its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 12.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,842 shares of the medical research company's stock after purchasing an additional 4,187 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Laboratory Co. of America were worth $8,680,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC increased its stake in shares of Laboratory Co. of America by 115.7% in the third quarter. OneDigital Investment Advisors LLC now owns 6,088 shares of the medical research company's stock worth $1,361,000 after purchasing an additional 3,265 shares in the last quarter. Great Valley Advisor Group Inc. bought a new stake in shares of Laboratory Co. of America during the 2nd quarter valued at $473,000. Alexander Randolph Advisory Inc. purchased a new stake in Laboratory Co. of America during the 3rd quarter worth about $955,000. Marietta Wealth Management LLC grew its holdings in Laboratory Co. of America by 50.7% during the 2nd quarter. Marietta Wealth Management LLC now owns 19,540 shares of the medical research company's stock valued at $3,977,000 after buying an additional 6,575 shares in the last quarter. Finally, Mutual of America Capital Management LLC bought a new stake in shares of Laboratory Co. of America during the third quarter valued at about $2,316,000. Institutional investors and hedge funds own 95.94% of the company's stock.

Insider Buying and Selling at Laboratory Co. of America

In other news, Director Kerrii B. Anderson sold 1,000 shares of Laboratory Co. of America stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $230.00, for a total value of $230,000.00. Following the completion of the transaction, the director now directly owns 13,722 shares of the company's stock, valued at approximately $3,156,060. The trade was a 6.79 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Glenn A. Eisenberg sold 11,711 shares of the company's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $240.43, for a total transaction of $2,815,675.73. Following the completion of the sale, the executive vice president now directly owns 31,289 shares of the company's stock, valued at approximately $7,522,814.27. This represents a 27.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,572 shares of company stock valued at $5,910,209 in the last ninety days. Insiders own 0.85% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Jefferies Financial Group reissued a "buy" rating and issued a $275.00 price target (up previously from $265.00) on shares of Laboratory Co. of America in a research note on Tuesday. Evercore ISI dropped their price target on Laboratory Co. of America from $250.00 to $240.00 and set an "in-line" rating for the company in a research note on Tuesday, September 24th. Bank of America increased their price objective on Laboratory Co. of America from $262.00 to $271.00 and gave the company a "buy" rating in a research report on Friday. Piper Sandler boosted their target price on Laboratory Co. of America from $235.00 to $240.00 and gave the stock a "neutral" rating in a research report on Monday, October 28th. Finally, HSBC raised Laboratory Co. of America from a "hold" rating to a "buy" rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $257.67.

Laboratory Co. of America Stock Performance

Shares of NYSE LH traded up $0.17 during trading on Friday, reaching $232.01. 318,395 shares of the company traded hands, compared to its average volume of 660,595. The stock has a market cap of $19.41 billion, a P/E ratio of 44.93, a PEG ratio of 1.89 and a beta of 1.05. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $247.99. The firm's fifty day simple moving average is $230.40 and its 200 day simple moving average is $219.97. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.66.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share for the quarter, topping analysts' consensus estimates of $3.48 by $0.02. Laboratory Co. of America had a net margin of 3.43% and a return on equity of 15.27%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period last year, the company posted $3.38 EPS. The business's revenue was up 7.4% on a year-over-year basis. As a group, research analysts anticipate that Laboratory Co. of America Holdings will post 14.52 earnings per share for the current fiscal year.

Laboratory Co. of America Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Tuesday, November 26th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America's payout ratio is currently 55.71%.

Laboratory Co. of America Company Profile

Labcorp Holdings Inc provides laboratory services. It operates through two segments, Diagnostics Laboratories and Biopharma Laboratory Services. The company offers various tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid, PAP, hemoglobin A1C and vitamin D, prostate-specific antigens, sexually transmitted diseases, hepatitis C, microbiology cultures and procedures, and alcohol and other substance-abuse tests.