Laboratory Co. of America Holdings (NYSE:LH) Shares Bought by Tokio Marine Asset Management Co. Ltd.

17 Nov 2024, 12:34 by Kim Johansen · The Markets Daily

Tokio Marine Asset Management Co. Ltd. raised its position in Laboratory Co. of America Holdings (NYSE:LH – Free Report) by 8.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,307 shares of the medical research company’s stock after buying an additional 175 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Laboratory Co. of America were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Metis Global Partners LLC increased its position in Laboratory Co. of America by 1.7% in the 3rd quarter. Metis Global Partners LLC now owns 4,432 shares of the medical research company’s stock valued at $990,000 after acquiring an additional 72 shares during the period. Curi RMB Capital LLC purchased a new position in shares of Laboratory Co. of America in the 3rd quarter valued at approximately $367,000. Alexander Randolph Advisory Inc. acquired a new position in shares of Laboratory Co. of America in the third quarter valued at approximately $955,000. Oppenheimer Asset Management Inc. raised its stake in shares of Laboratory Co. of America by 3.8% during the third quarter. Oppenheimer Asset Management Inc. now owns 12,735 shares of the medical research company’s stock worth $2,846,000 after purchasing an additional 470 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in shares of Laboratory Co. of America during the third quarter worth $540,000. 95.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LH has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Laboratory Co. of America from $220.00 to $230.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. HSBC upgraded shares of Laboratory Co. of America from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Piper Sandler raised their price objective on shares of Laboratory Co. of America from $235.00 to $240.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Bank of America boosted their target price on Laboratory Co. of America from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 5th. Finally, UBS Group raised their price target on Laboratory Co. of America from $260.00 to $270.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $255.92.

Get Our Latest Research Report on LH

Insider Transactions at Laboratory Co. of America

In other news, CEO Adam H. Schechter sold 6,189 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $243.47, for a total value of $1,506,835.83. Following the completion of the transaction, the chief executive officer now owns 87,441 shares of the company’s stock, valued at $21,289,260.27. The trade was a 6.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Der Vaart Sandra D. Van sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $227.05, for a total transaction of $454,100.00. Following the sale, the executive vice president now owns 3,670 shares in the company, valued at approximately $833,273.50. This trade represents a 35.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,189 shares of company stock valued at $2,190,936 over the last three months. 0.85% of the stock is currently owned by insiders.

Laboratory Co. of America Trading Down 1.2 %

NYSE:LH opened at $235.21 on Friday. Laboratory Co. of America Holdings has a 52-week low of $191.97 and a 52-week high of $247.99. The company has a quick ratio of 1.30, a current ratio of 1.44 and a debt-to-equity ratio of 0.66. The stock has a fifty day simple moving average of $224.40 and a 200-day simple moving average of $215.63. The company has a market capitalization of $19.67 billion, a PE ratio of 45.50, a price-to-earnings-growth ratio of 2.03 and a beta of 1.05.

Laboratory Co. of America (NYSE:LH – Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical research company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $3.38 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. On average, equities research analysts expect that Laboratory Co. of America Holdings will post 14.53 earnings per share for the current fiscal year.

Laboratory Co. of America Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.72 per share. This represents a $2.88 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, November 26th. Laboratory Co. of America’s payout ratio is 55.71%.

About Laboratory Co. of America

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