Bokf Na Has $2.89 Million Position in Laboratory Co. of America Holdings (NYSE:LH)

BOKF NA cut its stake in shares of Laboratory Co. of America Holdings (NYSE:LH - Free Report) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,468 shares of the medical research company's stock after selling 5,999 shares during the quarter. BOKF NA's holdings in Laboratory Co. of America were worth $2,893,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Graney & King LLC acquired a new stake in shares of Laboratory Co. of America in the fourth quarter worth $26,000. Fortitude Family Office LLC boosted its position in Laboratory Co. of America by 312.5% during the 4th quarter. Fortitude Family Office LLC now owns 132 shares of the medical research company's stock worth $30,000 after acquiring an additional 100 shares during the period. Geneos Wealth Management Inc. boosted its position in Laboratory Co. of America by 309.8% during the 4th quarter. Geneos Wealth Management Inc. now owns 168 shares of the medical research company's stock worth $39,000 after acquiring an additional 127 shares during the period. Human Investing LLC purchased a new position in Laboratory Co. of America during the 4th quarter valued at about $39,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Laboratory Co. of America in the 4th quarter valued at about $44,000. 95.94% of the stock is owned by hedge funds and other institutional investors.

Laboratory Co. of America Stock Performance

NYSE:LH traded down $0.79 during trading hours on Tuesday, hitting $250.15. 224,506 shares of the company traded hands, compared to its average volume of 639,357. 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 twelve month low of $191.97 and a twelve month high of $258.59. The firm has a 50-day moving average of $233.61 and a 200 day moving average of $237.19. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of 28.36, a P/E/G ratio of 1.71 and a beta of 0.82.

Laboratory Co. of America (NYSE:LH - Get Free Report) last released its earnings results on Tuesday, April 29th. The medical research company reported $3.84 earnings per share for the quarter, beating the consensus estimate of $3.73 by $0.11. The business had revenue of $3.35 billion during the quarter, compared to analysts' expectations of $3.41 billion. Laboratory Co. of America had a net margin of 5.73% and a return on equity of 15.29%. The firm's revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $3.68 earnings per share. On average, analysts forecast that Laboratory Co. of America Holdings will post 16.01 EPS for the current year.

Laboratory Co. of America Dividend Announcement

The firm 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 $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 1.15%. Laboratory Co. of America's payout ratio is 33.29%.

Insider Transactions at Laboratory Co. of America

In related news, EVP Der Vaart Sandra D. Van sold 1,314 shares of Laboratory Co. of America stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $251.30, for a total transaction of $330,208.20. Following the completion of the sale, the executive vice president now directly owns 2,171 shares of the company's stock, valued at $545,572.30. The trade was a 37.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Amy B. Summy sold 226 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $250.40, for a total transaction of $56,590.40. Following the completion of the sale, the chief marketing officer now owns 4,544 shares in the company, valued at approximately $1,137,817.60. This trade represents a 4.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,866 shares of company stock worth $2,674,576. Insiders own 0.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LH. Robert W. Baird lifted their target price on shares of Laboratory Co. of America from $253.00 to $267.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Truist Financial increased their price target on shares of Laboratory Co. of America from $274.00 to $290.00 and gave the stock a "buy" rating in a research note on Monday. Jefferies Financial Group lifted their price objective on shares of 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. Barclays raised their target price on Laboratory Co. of America from $240.00 to $250.00 and gave the company an "equal weight" rating in a report on Wednesday, April 30th. Finally, StockNews.com downgraded Laboratory Co. of America from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Four analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $270.62.

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.