Labcorp Holdings Inc.’s Stock Price Soars to $220.51, Marking a Positive Leap of 2.98%

Labcorp Holdings Inc. (LH)

220.51 USD +6.38 (+2.98%) Volume: 0.88M

Labcorp Holdings Inc.’s stock price stands at 220.51 USD, observing a promising growth of +2.98% this trading session with a trading volume of 0.88M, despite a slight drop of -2.98% YTD, indicating a dynamic market performance.

Latest developments on Labcorp Holdings Inc.

Today, Laboratory Corporation of America Holdings (NYSE:LH) experienced stock price movements as Everence Capital Management Inc. revealed their $472,000 stock holdings in the company. This news comes amidst a surge in the cholesterol test market, projected to reach $16.8 billion by 2032 according to a report by S&S Insider. Additionally, Allspring Global Investments Holdings LLC increased their stock position in Laboratory Co. of America Holdings, indicating growing investor confidence. The breast cancer core needle biopsy market is also projected to reach $1.04 billion by 2031, further highlighting the potential growth opportunities for Laboratory Corporation of America Holdings.

Labcorp Holdings Inc. on Smartkarma

Analysts at Baptista Research have provided bullish coverage of Laboratory Corporation of America Holdings (LabCorp) on Smartkarma. In their report titled “Expansion into Hospital & Regional Laboratory Markets & Focus on High-Growth Specialty Testing Markets! – Major Drivers,” they highlighted LabCorp’s robust performance in the second quarter of 2024. The company reported a 6% increase in revenues, totaling $3.2 billion, and a 15% rise in adjusted earnings per share (EPS) to $3.94. This positive outlook reflects LabCorp’s continued upward trajectory in its business operations.

Furthermore, Baptista Research also published another bullish report on LabCorp titled “Will The Acquisition of Invitae Be A Game Changer? – Major Drivers.” The report emphasized LabCorp’s significant growth in the first quarter of 2024, with total revenue reaching $3.2 billion and adjusted earnings per share at $3.68. This performance represents a 5% increase in enterprise revenue from the first quarter of 2023, with the Diagnostic Laboratories business contributing to a 4% increase and Biopharma revenue rising by 8%. Analysts continue to be optimistic about LabCorp’s potential for the rest of the year.

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 Smartkarma Smart Scores, Laboratory Corporation of America Holdings has a positive outlook with high scores in value and momentum. With a value score of 4, the company is considered to be undervalued compared to its peers. Additionally, a momentum score of 4 suggests that the company is experiencing strong positive price momentum. However, the company’s growth score is only a 2, indicating slower growth potential. Despite this, Laboratory Corporation of America Holdings maintains a resilient score of 3, showing its ability to withstand economic downturns. Overall, the company seems well-positioned for long-term success.

Laboratory Corporation of America Holdings, a clinical laboratory company, offers a variety of clinical laboratory tests used in routine testing, patient diagnosis, and disease monitoring and treatment. The company also specializes in oncology testing, HIV genotyping and phenotyping, diagnostic genetics, and clinical trials. With a dividend score of 3, Laboratory Corporation of America Holdings may not be the top choice for income-seeking investors, but its strong scores in value and momentum indicate potential for growth and market outperformance in the long run. Investors may find this company to be a promising opportunity for their portfolios.

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