Nomura Holdings Inc. Invests $4.24 Million in Laboratory Co. of America Holdings (NYSE:LH)

Nomura Holdings Inc. purchased a new stake in shares of Laboratory Co. of America Holdings (NYSE:LHFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,646 shares of the medical research company’s stock, valued at approximately $4,238,000.

Other institutional investors have also added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new stake in Laboratory Co. of America in the fourth quarter worth $265,000. PNC Financial Services Group Inc. raised its position in shares of Laboratory Co. of America by 1.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 39,296 shares of the medical research company’s stock valued at $8,932,000 after buying an additional 531 shares in the last quarter. Accent Capital Management LLC bought a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $144,000. Ables Iannone Moore & Associates Inc. purchased a new position in Laboratory Co. of America in the fourth quarter worth about $369,000. Finally, Wahed Invest LLC increased its stake in Laboratory Co. of America by 3.9% during the fourth quarter. Wahed Invest LLC now owns 1,443 shares of the medical research company’s stock worth $328,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 95.94% of the company’s stock.

Wall Street Analyst Weigh In

LH has been the subject of a number of recent research reports. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. StockNews.com lowered shares of Laboratory Co. of America from a “buy” rating to a “hold” rating in a research note on Tuesday, June 4th. Barclays lowered their target price on shares of Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating for the company in a report on Friday, April 26th. JPMorgan Chase & Co. cut their price target on shares of Laboratory Co. of America from $261.00 to $243.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, Truist Financial decreased their price objective on shares of Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating for the company in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $241.86.

View Our Latest Report on Laboratory Co. of America

Insiders Place Their Bets

In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now owns 5,637 shares in the company, valued at $1,188,448.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Laboratory Co. of America news, EVP Der Vaart Sandra D. Van sold 2,000 shares of Laboratory Co. of America stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $210.83, for a total value of $421,660.00. Following the transaction, the executive vice president now directly owns 5,637 shares of the company’s stock, valued at $1,188,448.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Der Vaart Sandra D. Van sold 3,553 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $216.74, for a total value of $770,077.22. Following the sale, the executive vice president now owns 7,637 shares of the company’s stock, valued at approximately $1,655,243.38. The disclosure for this sale can be found here. Insiders sold a total of 18,469 shares of company stock worth $3,959,058 over the last 90 days. Company insiders own 0.85% of the company’s stock.

Laboratory Co. of America Stock Up 1.0 %

NYSE LH traded up $2.09 on Tuesday, reaching $203.65. 39,717 shares of the stock traded hands, compared to its average volume of 740,697. Laboratory Co. of America Holdings has a 12 month low of $189.68 and a 12 month high of $234.09. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 40.56, a PEG ratio of 1.50 and a beta of 1.05. The company has a fifty day moving average price of $201.91 and a 200-day moving average price of $213.66. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.76 and a current ratio of 0.88.

Laboratory Co. of America (NYSE:LHGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating the consensus estimate of $3.48 by $0.20. Laboratory Co. of America had a return on equity of 14.68% and a net margin of 3.52%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the company posted $3.82 earnings per share. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, research analysts forecast that Laboratory Co. of America Holdings will post 14.87 EPS for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 12th. Investors of record on Tuesday, May 28th were issued a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Friday, May 24th. Laboratory Co. of America’s payout ratio is 57.95%.

Laboratory Co. of America Company Profile

(Free Report)

Laboratory Corporation of America Holdings operates as a life sciences company that provides vital information to help doctors, hospitals, pharmaceutical companies, researchers, and patients make clear and confident decisions. It operates in two segments, Labcorp Diagnostics (Dx) and Biopharma Laboratory Services (BLS).

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Institutional Ownership by Quarter for Laboratory Co. of America (NYSE:LH)

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