Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.
Laboratory Corporation of America Holdings (
LH) pushed the Health Services industry lower today making it today's featured Health Services laggard. The industry as a whole closed the day down 0.2%. By the end of trading, Laboratory Corporation of America Holdings fell 96 cents (-1.1%) to $89.24 on light volume. Throughout the day, 606,225 shares of Laboratory Corporation of America Holdings exchanged hands as compared to its average daily volume of 872,300 shares. The stock ranged in price between $89.13-$90.52 after having opened the day at $90.51 as compared to the previous trading day's close of $90.20. Other companies within the Health Services industry that declined today were:
Mela (
MELA), down 16.1%,
SunLink Health Systems (
SSY), down 13.8%,
Oculus Innovative (
OCLS), down 11.5%, and
Stereotaxis (
STXS), down 7.2%.
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Laboratory Corporation of America Holdings operates as an independent clinical laboratory company in the United States. The company offers a range of testing services used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of diseases. Laboratory Corporation of America Holdings has a market cap of $8.33 billion and is part of the health care sector. The company has a P/E ratio of 14.9, below the S&P 500 P/E ratio of 17.7. Shares are up 4.1% year to date as of the close of trading on Tuesday. Currently there are two analysts that rate Laboratory Corporation of America Holdings a buy, two analysts rate it a sell, and 12 rate it a hold.
TheStreet Ratings rates Laboratory Corporation of America Holdings as a
buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
On the positive front,
Bovie Medical Corporation (
BVX), up 9.2%,
Hooper Holmes (
HH), up 8.8%,
Biolase (
BIOL), up 8.4%, and
TearLab Corpoartion (
TEAR), up 7.3%, were all gainers within the health services industry with
Aetna (
AET) being today's featured health services industry leader.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the health services industry could consider
Health Care Select Sector SPDR (
XLV) while those bearish on the health services industry could consider
ProShares Ultra Short Health Care (
RXD).
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