Laboratory Corporation of America Holdings (NYSE:LH) or Labcorp has demonstrated a series of promising and progressive business movements. The company recently announced its Q2 profits and revenue estimates were higher than expected due to an increased demand for health tests. Alongside this success, Labcorp has also shown initiative by ramping up testing for mpox and expanding its testing to include Alzheimer's diagnoses.
Various financial institutions have reflected this positive performance with Labcorp receiving upgrades from HSBC and a 'Moderate Buy' consensus from brokerages. It's also seen Cambiar Investors LLC, Wealth Enhancement Advisory Services LLC, Private Advisor Group LLC, and SFE Investment Counsel among others, increasing their holdings in Labcorp, showing a strong investment interest.
Demonstrating aggressive growth, Labcorp made a winning bid for select assets of Invitae, followed by a finalized acquisition of selected Invitae assets. The corporation also announced the acquisition of select assets of BioReference Health's Diagnostics Business and further assets from OPKO Health.
However, the company faced a minor setback as it laid off 53 employees after a recent asset acquisition. despite this, Labcorp's stock has continued to trade at a 7.6% higher rate following strong earnings reports.
Laboratory Corporation of America Holdings LH News Analytics from Thu, 25 Sep 2014 07:00:00 GMT to Sat, 02 Nov 2024 11:50:47 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor 3
