Simon Quick Advisors and
Merit Financial Group have bought into
Laboratory Corporation of America Holdings (NYSE:LH), while AMI Asset and Galvin Gaustad & Stein have reduced their stakes. Despite this, Labcorp's stock was upgraded to outperform on cost synergy optimism. It declared its quarterly cash dividend, boosted by soaring stock highs of $239.65 amidst robust growth. Labcorp also announced strong Q3 earnings, upgraded its revenue guidance, and even won a bid for select assets of Invitae. Labcorp's latest acquisition,
BioReference Health, has further boosted its stock. They've recently launched an
H5 Bird Flu test and secured FDA Approval for a home kit following a U.S outbreak. Labcorp's insiders have been selling shares, sparking investor caution. It divested from
Fortrea but faced a dip in shares. However, following a good performance in the routine testing segment, Labcorp rallied to beat quarterly profit estimates. Recent strategic moves include partnerships with
Tufts Medicine and
BAYSTATE HEALTH. Labcorp hopes to expand its global capabilities leveraging its new APH Lab.
Laboratory Corporation of America Holdings LH News Analytics from Wed, 05 Nov 2014 08:00:00 GMT to Fri, 24 Jan 2025 15:29:48 GMT -
Rating 8
- Innovation 6
- Information 9
- Rumor -4
