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LH

LabCorp

$165.02

-0.64 (-0.39%)

, DGX

Quest Diagnostics

$98.96

0.79 (0.80%)

15:07
05/03/19
05/03
15:07
05/03/19
15:07

LabCorp moves lower after disclosing subpoenas from Justice Department

Shares of LabCorp moved lower after the company disclosed in its quarterly filing that its Covance Research Products unit was served with a Grand Jury Subpoena on April 1, issued by the Department of Justice in Miami, Florida, requiring the production of documents related to the importation into the United States of live non-human primate shipments originating from or transiting through China, Cambodia, and/or Vietnam from April 1, 2014 through March 28, 2019. The company said it is cooperating with the Department of Justice. Further, on April 4, Tri-Cities Laboratory, a joint venture LabCorp acquired as part of the Pathology Associates Medical Laboratories transaction in May 2017, was served with a subpoena issued by the Department of Justice in Newark, New Jersey, requiring the production of documents related to test orders and payments to various third party companies and individuals. The company said it is cooperating with the Department of Justice. Shares of LabCorp moved lower following the afternoon disclosure and are trading down $1.51 to $164.12. LabCorp competitor Quest Diagnostics (DGX) gave up some of its gains as well but the shares remain up 51c to $98.67 in afternoon trading.

LH

LabCorp

$165.02

-0.64 (-0.39%)

DGX

Quest Diagnostics

$98.96

0.79 (0.80%)

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LH LabCorp
$165.02

-0.64 (-0.39%)

04/02/19
WOLF
04/02/19
INITIATION
Target $150
WOLF
Underperform
LabCorp initiated with an Underperform at Wolfe Research
Wolfe Research started LabCorp with an Underperform rating and $150 price target, citing concerns about the 2021 impact of PAMA and exposure to patient collections.
04/02/19
04/02/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Exelon (EXC) upgraded to Outperform from Market Perform at Wells Fargo with analyst Neil Kalton saying a key tenant to his thesis is that ExGen's nuclear fleet operates through the end of the units' various license extension periods, which will likely require additional policy support. 2. CommScope (COMM) upgraded to Outperform from Neutral at Credit Suisse with analyst Sami Badri citing fundamental strength in the combined business computed in his updated CommScope-Arris (ARRS) merger model with the Arris acquisition expected to close in April 2019. 3. Quest Diagnostics (DGX) and LabCorp (LH) upgraded to Buy from Hold at Jefferies. 4. Hostess Brands (TWNK) upgraded to Buy from Hold at Deutsche Bank with analyst Rob Dickerson saying management execution, a turnaround to profitability in the Chicago bakery and improved pricing could return Hostess to "top-tier revenue growth" this year. 5. Amphenol (APH) upgraded to Buy from Hold at SunTrust with analyst William Stein saying in a world of uncertainty, Amphenol offers more dependable upside. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
04/23/19
BNCH
04/23/19
NO CHANGE
BNCH
UnitedHealth preferred lab launch a long-term plus for Invitae, says Benchmark
Benchmark analyst Bruce Jackson noted that UnitedHealthcare (UNH) plans to launch a Preferred Laboratory Network to include Invitae (NVTA), which he views as a long-term positive for the latter and "another building block for Invitae's strategy to make genetic testing more widely available and more easily reimbursed." Other labs named to the preferred network include LabCorp (LH), Quest Diagnostics (DGX), and BioReference and GeneDx, which are both part of Opko (OPK), the analyst noted. UnitedHealthcare's current network includes NeoGenomics (NEO) and he doesn't anticipate any impact to NeoGenomics from the preferred network launch, added Jackson.
04/30/19
PIPR
04/30/19
NO CHANGE
PIPR
Overweight
Piper says LabCorp may be taking incremental volume from regional payers
After LabCorp (LH) reported a mixed Q1, with better than expected earnings and lower than expected revenue, Piper Jaffray analyst William Quirk said he found it interesting that management noted volumes from UnitedHealth (UNH) and CVS Health's (CVS) Aetna is stable after the initial decline in January. He thinks this implies that LabCorp and Quest (DGX) are likely taking some incremental volume from regional payers, adding that this is sooner than he anticipated following the new managed care deals. However, management "remains coy" about the future impact from other volume consolidating programs, such as UnitedHealth's Preferred Lab Network, according to Quirk. He keeps an Overweight rating on LabCorp shares.
DGX Quest Diagnostics
$98.96

0.79 (0.80%)

04/24/19
ADAM
04/24/19
NO CHANGE
Target $103
ADAM
Buy
Quest Diagnostics price target raised to $103 from $97 at Canaccord
Canaccord analyst Mark Massaro raised his price target for Quest Diagnostics (DGX) to $103 from $97 and reiterated a Buy rating after the company delivered a "solid" Q1 top and bottom line beat, driven by stronger volume growth than the Street anticipated. Quest is off to a "good start" as it adds new volume growth related to 43M new lives from recent health plan wins from UnitedHealthcare (UNH) and others, and Quest expects volumes to gradually grow throughout this year, Massaro tells investors in a research note.
04/24/19
SBSH
04/24/19
NO CHANGE
Target $102
SBSH
Neutral
Quest Diagnostics price target raised to $102 from $93 at Citi
Citi analyst Ralph Giacobbe raised his price target for Quest Diagnostics to $102 from $93 saying the company's Q1 results are encouraging as volumes are beginning to ramp. His new price target reflects the upside in the quarter and greater comfort in Quest hitting its guidance. Giacobbe keeps a Neutral rating on the shares.

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VTR

Ventas

$69.65

1.05 (1.53%)

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AAPL

Apple

$197.87

-0.65 (-0.33%)

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DELL

Dell Technologies

$53.39

1.88 (3.65%)

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HPQ

HP Inc.

$20.63

0.1 (0.49%)

21:21
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GNCA

Genocea

$3.84

-1.32 (-25.58%)

21:18
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Syndicate
Genocea 10M share Secondary priced at $3.50 »

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PSNL

Personalis

$0.00

(0.00%)

21:15
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Syndicate
Personalis 7.922M share IPO priced at $17.00 »

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CYRX

Cryoport

$18.62

-0.08 (-0.43%)

21:13
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Syndicate
Cryoport 3.75M share Spot Secondary priced at $17.00 »

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VTR

Ventas

$69.65

1.05 (1.53%)

20:41
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20:41
Upgrade
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HSY

Hershey

$137.94

-0.29 (-0.21%)

20:27
06/19/19
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Downgrade
Hershey rating change at Piper Jaffray »

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KR

Kroger

$23.64

-0.3 (-1.25%)

, DRI

Darden

$117.55

-0.39 (-0.33%)

20:25
06/19/19
06/19
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20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

KR

Kroger

$23.64

-0.3 (-1.25%)

DRI

Darden

$117.55

-0.39 (-0.33%)

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DAL

Delta Air Lines

$56.38

0.33 (0.59%)

20:08
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Periodicals
Breaking Periodicals news story on Delta Air Lines »

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SPY

SPDR S&P 500 ETF Trust

$293.02

0.69 (0.24%)

, SPX

S&P 500

$0.00

(0.00%)

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Periodicals
Breaking Periodicals news story on SPDR S&P 500 ETF Trust, S&P 500 »

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SPDR S&P 500 ETF Trust

$293.02

0.69 (0.24%)

SPX

S&P 500

$0.00

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ARZGY

Generali

$0.00

(0.00%)

19:22
06/19/19
06/19
19:22
06/19/19
19:22
Downgrade
Generali rating change at JPMorgan »

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GO

Grocery Outlet

$0.00

(0.00%)

19:00
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Syndicate
Grocery Outlet 17.19M share IPO priced at $22.00 »

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WIX

Wix.com

$145.83

1.19 (0.82%)

18:57
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Hot Stocks
Wix.com CEO: Q1 was very good for us »

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AOBC

American Outdoor Brands

$9.17

0.13 (1.44%)

, ORCL

Oracle

$52.69

-0.19 (-0.36%)

18:44
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$9.17

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ORCL

Oracle

$52.69

-0.19 (-0.36%)

JSYN

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ABEO

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PIR

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SCS

Steelcase

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LAND

Gladstone Land

$12.29

0.39 (3.28%)

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TMUS

T-Mobile

$78.28

1.79 (2.34%)

, S

Sprint

$7.46

0.24 (3.32%)

18:39
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Periodicals
T-Mobile readies for Boost auction if Dish talks fall through, Reuters says »

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TMUS

T-Mobile

$78.28

1.79 (2.34%)

S

Sprint

$7.46

0.24 (3.32%)

DISH

Dish

$38.90

-0.18 (-0.46%)

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ZBRA

Zebra Technologies

$200.57

-1.1 (-0.55%)

18:39
06/19/19
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Hot Stocks
Zebra Technologies Chief of Product sells 5K shares of common stock »

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ZBRA

Zebra Technologies

$200.57

-1.1 (-0.55%)

18:23
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Hot Stocks
Zebra Technologies CEO sells 20K shares of common stock »

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UNH

UnitedHealth

$250.25

4.6 (1.87%)

, DVA

DaVita

$51.27

1.51 (3.03%)

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Hot Stocks
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UNH

UnitedHealth

$250.25

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DVA

DaVita

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  • 18

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SRRK

Scholar Rock

$17.11

-2.835 (-14.21%)

18:11
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QDEL

Quidel

$58.80

1.7 (2.98%)

18:01
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Quidel receives 510k clearance for Triage TOX Drug Screen »

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DELL

Dell Technologies

$53.39

1.88 (3.65%)

, HPQ

HP Inc.

$20.63

0.1 (0.49%)

17:59
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Periodicals
Dell, HP, Intel, Microsoft express opposition to Trump tariffs, Bloomberg says »

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DELL

Dell Technologies

$53.39

1.88 (3.65%)

HPQ

HP Inc.

$20.63

0.1 (0.49%)

INTC

Intel

$47.08

-0.29 (-0.61%)

MSFT

Microsoft

$135.63

0.43 (0.32%)

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ORCL

Oracle

$52.69

-0.19 (-0.36%)

17:54
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  • 19

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CB

Chubb

$149.48

1.37 (0.92%)

17:54
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Hot Stocks
Chubb CEO sells 215.6K shares of common stock »

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