Recently, Laboratory Corporation of America Holdings (NYSE:LH) showcased steady performance in bio-tech market. Investment firms like Vontobel Holding Ltd and Swedbank AB adjusted their stake in Labcorp. The company declared its Q1 2024 earnings, in which it surpassed estimates and raised EPS view for 2024. Labcorp has embarked on its expansion strategy by widening its Sexually Transmitted Infection (STI) test services via a new Rapid Syphilis Test feature.
In a significant business move, Labcorp won a bid for select assets of Invitae and is set to acquire certain assets from BioReference Health's Diagnostics Business. Financial performance wise, Labcorp issued senior notes - $650,000,000 at 4.350% due 2030, $500,000,000 at 4.550% due 2032 and $850,000,000 at 4.800% due 2034. Furthermore, the collaboration with Hawthorne Effect to bring clinical trials directly to local communities is an innovative approach to medical service delivery. Still, some stake reductions placed in question such as Anchor Investment Management LLC selling 8,521 shares and Eagle Rock Investment Company LLC reducing its stake. Despite considerable business developments and financial outcomes, the firm's stock has been deemed as 'Moderate Buy'.
Laboratory Corporation of America Holdings LH News Analytics from Wed, 06 Apr 2011 07:00:00 GMT to Sat, 19 Oct 2024 07:50:30 GMT - Rating 8 - Innovation 6 - Information 5 - Rumor -2
