Laboratory Corp Of America Holdings (LH) Hits New Lifetime High Today

Trade-Ideas LLC identified Laboratory Corp of America Holdings ( LH) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Laboratory Corp of America Holdings as such a stock due to the following factors:

  • LH has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $117.2 million.
  • LH has traded 6,867 shares today.
  • LH is trading at a new lifetime high.

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More details on LH:

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It operates through two segments, LabCorp Diagnostics and Covance Drug Development. LH has a PE ratio of 24. Currently there are 12 analysts that rate Laboratory Corp of America Holdings a buy, no analysts rate it a sell, and 5 rate it a hold.

The average volume for Laboratory Corp of America Holdings has been 863,800 shares per day over the past 30 days. Laboratory Corp of America has a market cap of $14.2 billion and is part of the health care sector and health services industry. The stock has a beta of 0.94 and a short float of 3.1% with 3.78 days to cover. Shares are up 12.9% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Laboratory Corp of America Holdings as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, expanding profit margins, solid stock price performance and impressive record of earnings per share growth. We feel its strengths outweigh the fact that the company shows weak operating cash flow.

Highlights from the ratings report include:
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Health Care Providers & Services industry average. The net income increased by 16.7% when compared to the same quarter one year prior, going from $169.80 million to $198.20 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 14.3%. Since the same quarter one year prior, revenues slightly increased by 7.1%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • 37.31% is the gross profit margin for LABORATORY CP OF AMER HLDGS which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 8.15% is above that of the industry average.
  • The stock has not only risen over the past year, it has done so at a faster pace than the S&P 500, reflecting the earnings growth and other positive factors similar to those we have cited here. Looking ahead, the stock's rise over the last year has already helped drive it to a level which is relatively expensive compared to the rest of its industry. We feel, however, that the other strengths this company displays justify these higher price levels.
  • LABORATORY CP OF AMER HLDGS has improved earnings per share by 15.1% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. But, we feel it is poised for EPS growth in the coming year. During the past fiscal year, LABORATORY CP OF AMER HLDGS reported lower earnings of $4.30 versus $5.93 in the prior year. This year, the market expects an improvement in earnings ($8.80 versus $4.30).

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