Labcorp Holdings Inc.’s Stock Price Skyrockets to $233.39, Witnessing a Robust 8.33% Uptick

Labcorp Holdings Inc. (LH)

233.39 USD +17.95 (+8.33%) Volume: 1.68M

Labcorp Holdings Inc.’s stock price has soared to 233.39 USD, marking an impressive trading session increase of +8.33%. With a robust trading volume of 1.68M and a year-to-date percentage change of +2.68%, LH’s stock performance remains a noteworthy topic in the investment arena. Discover more about Labcorp’s bullish market trajectory.

Latest developments on Labcorp Holdings Inc.

Laboratory Corporation of America Holdings, commonly known as Labcorp, has seen a surge in its stock price today following the release of its Q2 2024 earnings report. The company reported earnings per share of $2.43, surpassing analyst estimates and demonstrating strong demand for its health tests. Labcorp also provided positive guidance for the fiscal year 2024, further boosting investor confidence. In addition, Labcorp recently announced an expansion of its collaboration with Ultima Genomics, highlighting its commitment to advancing genomic sequencing applications and oncology testing capabilities. These positive developments have contributed to the recent uptick in Labcorp’s stock price, reflecting the company’s continued growth and innovation in the healthcare sector.

Labcorp Holdings Inc. on Smartkarma

Analysts at Baptista Research have provided bullish coverage on Laboratory Corporation of America Holdings (LabCorp) on Smartkarma. In their report titled “Laboratory Corporation of America (LabCorp): Will The Acquisition of Invitae Be A Game Changer? – Major Drivers,” they highlight LabCorp’s significant growth in the first quarter of 2024. The company reported total revenue of $3.2 billion and adjusted earnings per share of $3.68, showing a 5% increase in enterprise revenue from the same period last year. The Diagnostic Laboratories business saw a 4% increase in revenue, while Biopharma revenue rose by 8%.

Another report by Baptista Research on Smartkarma, titled “Laboratory Corporation of America (LabCorp): Significant Growth Momentum In The Diagnostics & Women’s Health Can Revolutionize Growth? – Major Drivers,” further praises LabCorp’s performance. In Q4 2023, the company demonstrated robust growth driven by strong base business revenue. Revenues reached $3 billion, adjusted earnings per share stood at $3.30, and free cash flow from operations, excluding spin-related items, was $422 million. Enterprise revenue grew by 4%, with an 8% growth in the Diagnostics business and a 7% growth in the Biopharma business.

A look at Labcorp Holdings Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Laboratory Corporation of America Holdings has a positive long-term outlook. With high scores in Value, Momentum, and Resilience, the company is positioned well for future growth and stability. While the Growth score is on the lower side, the company’s focus on specialty testing operations like oncology and diagnostic genetics could potentially drive future growth.

Laboratory Corporation of America Holdings also scores moderately in Dividend, indicating a potential for returns to investors. Overall, the company’s strong performance in key areas bodes well for its continued success in the clinical laboratory industry, where it plays a crucial role in providing essential testing services for medical professionals and patients.

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