Dai ichi Life Insurance Company Ltd Has $1.43 Million Holdings in Laboratory Co. of America Holdings (NYSE:LH)

Dai ichi Life Insurance Company Ltd cut its holdings in shares of Laboratory Co. of America Holdings (NYSE:LH) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,308 shares of the medical research company’s stock after selling 580 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Laboratory Co. of America were worth $1,434,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LH. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Laboratory Co. of America by 6.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 1,761 shares of the medical research company’s stock valued at $354,000 after purchasing an additional 104 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of Laboratory Co. of America by 16.4% in the third quarter. Corient Private Wealth LLC now owns 40,049 shares of the medical research company’s stock valued at $8,052,000 after purchasing an additional 5,657 shares in the last quarter. NBC Securities Inc. acquired a new position in Laboratory Co. of America during the third quarter worth $147,000. Achmea Investment Management B.V. raised its stake in Laboratory Co. of America by 17.5% during the third quarter. Achmea Investment Management B.V. now owns 18,803 shares of the medical research company’s stock worth $3,781,000 after acquiring an additional 2,801 shares in the last quarter. Finally, Ieq Capital LLC raised its stake in Laboratory Co. of America by 5.6% during the third quarter. Ieq Capital LLC now owns 16,440 shares of the medical research company’s stock worth $3,305,000 after acquiring an additional 874 shares in the last quarter. 95.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LH shares. Leerink Partnrs reiterated an “outperform” rating on shares of Laboratory Co. of America in a report on Monday, February 26th. Evercore ISI assumed coverage on Laboratory Co. of America in a report on Friday, February 9th. They set an “in-line” rating and a $240.00 target price on the stock. SVB Leerink assumed coverage on Laboratory Co. of America in a report on Monday, February 26th. They set an “outperform” rating and a $260.00 target price on the stock. Truist Financial dropped their price target on Laboratory Co. of America from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Barclays dropped their price target on Laboratory Co. of America from $234.00 to $213.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Laboratory Co. of America presently has a consensus rating of “Moderate Buy” and an average target price of $243.14.

Laboratory Co. of America Stock Up 0.1 %

LH stock traded up $0.13 during mid-day trading on Friday, reaching $196.50. The company had a trading volume of 26,351 shares, compared to its average volume of 744,016. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.88 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $207.28 and a two-hundred day simple moving average of $215.16. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 1.51 and a beta of 1.02. Laboratory Co. of America Holdings has a 52 week low of $174.20 and a 52 week high of $234.09.

Laboratory Co. of America (NYSE:LH) last posted its quarterly earnings results on Thursday, April 25th. The medical research company reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $3.82 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that Laboratory Co. of America Holdings will post 14.87 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Tuesday, May 28th will be paid a dividend of $0.72 per share. The ex-dividend date is Friday, May 24th. This represents a $2.88 annualized dividend and a dividend yield of 1.47%. Laboratory Co. of America’s dividend payout ratio is currently 57.95%.

Insider Transactions at Laboratory Co. of America

In other Laboratory Co. of America news, Director Kerrii B. Anderson sold 250 shares of Laboratory Co. of America stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total value of $50,025.00. Following the completion of the transaction, the director now directly owns 15,722 shares of the company’s stock, valued at approximately $3,145,972.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Mark S. Schroeder sold 5,048 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $218.45, for a total transaction of $1,102,735.60. Following the completion of the sale, the chief operating officer now directly owns 5,036 shares in the company, valued at approximately $1,100,114.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kerrii B. Anderson sold 250 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $200.10, for a total value of $50,025.00. Following the sale, the director now owns 15,722 shares of the company’s stock, valued at $3,145,972.20. The disclosure for this sale can be found here. In the last three months, insiders sold 23,744 shares of company stock worth $5,111,382. 0.85% of the stock is owned by company insiders.

Laboratory Co. of America Profile

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).