Resona Asset Management Co. Ltd. Takes $5.87 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,568 shares of the medical research company's stock, valued at approximately $5,867,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LH. Quantinno Capital Management LP grew its holdings in shares of Laboratory Co. of America by 6.9% in the third quarter. Quantinno Capital Management LP now owns 3,194 shares of the medical research company's stock worth $714,000 after acquiring an additional 206 shares during the period. EP Wealth Advisors LLC increased its position in shares of Laboratory Co. of America by 15.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 1,420 shares of the medical research company's stock valued at $317,000 after purchasing an additional 194 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Laboratory Co. of America by 1.3% in the third quarter. National Bank of Canada FI now owns 9,757 shares of the medical research company's stock worth $2,180,000 after buying an additional 121 shares during the last quarter. Orion Portfolio Solutions LLC increased its holdings in Laboratory Co. of America by 34.3% during the third quarter. Orion Portfolio Solutions LLC now owns 14,508 shares of the medical research company's stock valued at $3,242,000 after buying an additional 3,708 shares during the last quarter. Finally, MML Investors Services LLC raised its position in Laboratory Co. of America by 0.4% in the third quarter. MML Investors Services LLC now owns 19,179 shares of the medical research company's stock worth $4,286,000 after acquiring an additional 82 shares during the period. Hedge funds and other institutional investors own 95.94% of the company's stock.

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Laboratory Co. of America Price Performance

Laboratory Co. of America stock traded up $5.93 during mid-day trading on Monday, reaching $227.39. 76,772 shares of the company's stock traded hands, compared to its average volume of 635,762. Laboratory Co. of America Holdings has a 12-month low of $191.97 and a 12-month high of $258.59. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.71 and a beta of 0.99. The stock has a 50 day moving average of $240.04 and a two-hundred day moving average of $234.91. 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 results on Thursday, February 6th. The medical research company reported $3.45 EPS for the quarter, topping 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%. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, June 11th. Shareholders of record on Thursday, May 29th will be given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a yield of 1.27%. Laboratory Co. of America's dividend payout ratio (DPR) is 32.65%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LH. Evercore ISI raised Laboratory Co. of America from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Jefferies Financial Group boosted their price objective on Laboratory Co. of America from $275.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Truist Financial decreased their target price on shares of Laboratory Co. of America from $285.00 to $274.00 and set a "buy" rating on the stock in a research note on Friday. Redburn Atlantic assumed coverage on shares of Laboratory Co. of America in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $276.00 price objective for the company. Finally, UBS Group lowered their target price on shares of Laboratory Co. of America from $293.00 to $286.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. Three investment 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 company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $268.77.

Insider Transactions at Laboratory Co. of America

In other news, EVP Amy B. Summy sold 758 shares of Laboratory Co. of America stock in a transaction on Friday, March 28th. The stock was sold at an average price of $231.67, for a total transaction of $175,605.86. Following the completion of the sale, the executive vice president now directly owns 5,302 shares in the company, valued at approximately $1,228,314.34. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adam H. Schechter sold 6,121 shares of the company's 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 completion of the transaction, the chief executive officer now owns 86,445 shares in the company, valued at approximately $21,146,175.90. The trade was a 6.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,258 shares of company stock worth $3,518,177. 0.85% of the stock is currently owned by insiders.

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.