Resona Asset Management Co. Ltd. Makes New $5.87 Million Investment in Laboratory Co. of America Holdings (NYSE:LH)

Resona Asset Management Co. Ltd. bought a new stake in Laboratory Co. of America Holdings (NYSE:LH) during the fourth quarter, Holdings Channel.com reports. The firm bought 25,568 shares of the medical research company’s stock, valued at approximately $5,867,000.

Several other hedge funds and other institutional investors also recently modified their holdings of LH. Capital City Trust Co. FL lifted its position in Laboratory Co. of America by 1.5% in the 4th quarter. Capital City Trust Co. FL now owns 15,553 shares of the medical research company’s stock valued at $3,567,000 after purchasing an additional 223 shares during the last quarter. Wealthcare Advisory Partners LLC raised its holdings in shares of Laboratory Co. of America by 23.9% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 2,543 shares of the medical research company’s stock valued at $583,000 after buying an additional 490 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its position in shares of Laboratory Co. of America by 51.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 1,495 shares of the medical research company’s stock worth $343,000 after buying an additional 506 shares during the period. Barclays PLC grew its holdings in Laboratory Co. of America by 11.8% in the 3rd quarter. Barclays PLC now owns 620,721 shares of the medical research company’s stock worth $138,718,000 after buying an additional 65,356 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in Laboratory Co. of America by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 1,052,927 shares of the medical research company’s stock valued at $243,321,000 after acquiring an additional 68,974 shares during the period. Institutional investors and hedge funds own 95.94% of the company’s stock.

Laboratory Co. of America Price Performance

NYSE LH opened at $217.34 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.30 and a debt-to-equity ratio of 0.67. Laboratory Co. of America Holdings has a 1 year low of $191.97 and a 1 year high of $258.59. The company has a market cap of $18.19 billion, a PE ratio of 24.64, a PEG ratio of 1.71 and a beta of 0.99. The stock’s 50-day moving average price is $241.90 and its two-hundred day moving average price is $234.79.

Laboratory Co. of America (NYSE:LH) last released its quarterly earnings results on Thursday, February 6th. The medical research company reported $3.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Insider Activity

In other news, EVP Amy B. Summy sold 758 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were 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 directly owns 5,302 shares of the company’s stock, valued at $1,228,314.34. This 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, COO Mark S. Schroeder sold 5,339 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $249.23, for a total transaction of $1,330,638.97. Following the transaction, the chief operating officer now directly owns 4,960 shares in the company, valued at $1,236,180.80. The trade was a 51.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,258 shares of company stock worth $3,518,177 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

LH has been the subject of a number of analyst reports. Barclays reduced their price target on Laboratory Co. of America from $271.00 to $260.00 and set an “equal weight” rating for the company in a research report on Friday, February 7th. Bank of America increased their target price on shares of Laboratory Co. of America from $262.00 to $271.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price target on shares of Laboratory Co. of America from $275.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Redburn Atlantic began coverage on shares of Laboratory Co. of America in a report on Wednesday, April 2nd. They issued a “buy” rating and a $276.00 price objective for the company. Finally, Evercore ISI raised Laboratory Co. of America from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $260.00 to $265.00 in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Laboratory Co. of America currently has an average rating of “Moderate Buy” and an average price target of $270.38.

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.