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LH

LabCorp

$161.78

-3.22 (-1.95%)

06:46
11/30/18
11/30
06:46
11/30/18
06:46

LabCorp downgraded to Buy from Conviction Buy at Goldman Sachs

Goldman Sachs analyst Patrick Donnelly removed LabCorp from his firm's Americas Conviction List and lowered his price target for the shares to $180 from $190. He keeps a Buy rating on the stock. The analyst also downgraded his coverage view of Labs from Attractive to Neutral. His "incrementally more cautious stance" reflects his expectation for continued downward pressure to consensus estimates from ongoing pricing pressure, a "muted" volume outlook, and uncertainty regarding ongoing commercial payer dynamics. However, he believes LabCorp is "uniquely positioned to offset Lab industry headwinds."

LH LabCorp
$161.78

-3.22 (-1.95%)

11/28/18
PIPR
11/28/18
NO CHANGE
PIPR
Piper sees 'incremental winners' in final Clinical Laboratory Fee Schedule
CareDx (CDNA), Genomic Health (GHDX), LabCorp (LH), Myriad Genetics (MYGN), Natera (NTRA) and Quest Diagnostics (DGX) are the "incremental winners" in the 2019 Final Clinical Laboratory Fee Schedule determinations announced by the Centers for Medicare and Medicaid Services, Piper Jaffray analyst William Quirk tells investors in a research note. Specifically, CMS priced the advanced carrier screening panel at $2,449 versus the code stack method yesterday, Quirk writes. He points out that Genomic Health gets a bump for a couple tests and CareDx competitor TAI Diagnostics ends up with a likely longer pathway to reimbursement.
10/30/18
10/30/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. LabCorp (LH) downgraded to Hold from Buy at Argus with analyst Jasper Hellweg saying the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. 2. E-Trade (ETFC) downgraded to Outperform from Strong Buy at Raymond James with analyst Patrick O'Shaughnessy saying the recent board decision not to sell the business and remain a standalone company takes a sales scenario off the table. The analyst remains positive on shares ans believes there is plenty of upside as management executes on its operating plan. 3. Southwest (LUV) downgraded to Underweight from Neutral at JPMorgan while United Continental (UAL) and Spirit Airlines (SAVE) downgraded to Neutral from Overweight. 4. Flex (FLEX) downgraded to Hold from Buy at Argus with analyst Jim Kelleher citing the expected impact from the "shutdown of Mexican operations with key customer Nike (NKE), which he expects to be fully unwound," as well as the retirement of the company CEO Mike McNamara who had presided over the company's business expansion. 5. Elevate Credit (ELVT) downgraded to Market Perform from Outperform at JMP Securities and William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/30/18
ARGS
10/30/18
DOWNGRADE
ARGS
Hold
LabCorp downgraded to Hold from Buy at Argus
Argus analyst Jasper Hellweg downgraded LabCorp (LH) to Hold from Buy after its Q3 earnings miss and a cut in FY18 guidance. The analyst notes that the company is faced with pressure from "lower lab testing payment rates mandated by the Protecting Access to Medicaid Act of 2014" along with business disruptions and the impact of acquisitions which resulted in lowers margins for the quarter. Hellweg further cites LabCorp's loss of "status as the exclusive national provider of laboratory services to UnitedHealthcare (UNH)" to rival Quest Diagnostics (DGX). In spite of these short-term challenges, the analyst also maintains a positive outlook for LabCorp on a long-term basis, adding that he would "consider an upgrade if the stock stabilized at the support level of $147 per share."
10/30/18
ARGS
10/30/18
DOWNGRADE
ARGS
Hold
LabCorp downgraded to Hold from Buy at Argus

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