Several key developments have been noted regarding Laboratory Corporation of America Holdings (LH). The American clinical laboratory company's stock has shown robust growth, hitting a 52-week high at $239.65, resulting in top financial institutions like Bank of America and Jefferies Financial Group boosting their price targets for Laboratory Co.'s shares. The business has also been witnessing support from prominent investors such as Geode Capital Management and Barclays PLC, with increasing stock positions.
Despite a few instances ofMissing expected earnings, Laboratory Co. has impressed with its Q2 2024 earnings, where EPS of $2.43 beat estimates. Furthermore, the successful acquisition of select assets of Invitae and BioReference Health's Diagnostics Business illustrates an aggressive expansion strategy.
Adding to its success, its Q3 2024 earnings report showed a raised revenue guidance midpoint, while it declared a quarterly dividend. Additionally, LabCorp has reportedly entered into lucrative agreements with Legacy Health and Baystate Health, extending its clinical laboratory services reach.
However, some concern centres around the compensation package of its CEO and the possibility of a pay rise.
Laboratory Corporation of America Holdings LH News Analytics from Thu, 03 Jun 2021 07:00:00 GMT to Sat, 14 Dec 2024 16:44:46 GMT - Rating 9 - Innovation 6 - Information 7 - Rumor -5
