LabCorp (LH) has had a dynamic performance in the bio-tech market. The company announced its
Q4 2023 and
Q1 2024 earnings, with revenues exceeding predictions but EPS lagging. LH's stock ownership has seen changes; several financial institutions, including
Wealthspire Advisors,
SG Americas Securities and
BI Asset Management Fondsmaeglerselskab A S increased their stake, while others, such as
Swiss National Bank and
Mutual of America Capital Management, have sold off shares. LabCorp made decisive moves with notable growth aspects, winning the bid for select assets of
Invitae, and acquiring select assets of
BioReference Health's Diagnostics Business, both expected to boost its diagnostic capabilities. Long term, Labcorp has made investments in new technology, including tests for
preeclampsia risk and
Alzheimer's disease diagnosis, while also extending
Molecular Residual Disease (MRD) clinical research. Nevertheless, the firm faced some challenges as revealed by EPS misses from FY 2023 earnings as well as investor concerns about the company's
valuation.
Laboratory Corporation of America Holdings LH News Analytics from Mon, 03 Jul 2023 07:00:00 GMT to Sun, 14 Jul 2024 19:45:18 GMT -
Rating 5
- Innovation 8
- Information 6
- Rumor 2
