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LH

LabCorp

$163.81

1.24 (0.76%)

16:49
06/03/19
06/03
16:49
06/03/19
16:49

LabCorp and Envigo complete previously announced transactions

LabCorp and Envigo announced that they have completed previously announced transactions that will strengthen and enhance the way their respective businesses support research in the biopharmaceutical and life sciences industries. LabCorp's Covance Drug Development segment has completed the acquisition of Envigo's nonclinical contract research services business, expanding Covance's global nonclinical drug development capabilities with additional locations and resources. Envigo's Research Models and Services business has completed the acquisition of the Covance Research Products business, resulting in an organization dedicated to offering a full range of research models, diets and bedding. The two companies will continue to collaborate through a multi-year, renewable supply agreement. "This unique transaction furthers a key element of our strategy to provide the biopharma industry with comprehensive drug development services that help bring innovative medicines to patients," said David P. King, chairman and CEO of LabCorp. "We are delighted to welcome our new colleagues from Envigo to Covance and look forward to driving growth and innovation with enhanced nonclinical research solutions that ultimately improve health and improve lives."

  • 05

    Jun

LH LabCorp
$163.81

1.24 (0.76%)

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.
05/14/19
RAJA
05/14/19
NO CHANGE
RAJA
Walgreens could target Amerisource, LabCorp if it seeks M&A, says Raymond James
Raymond James analyst John Ransom said he thinks that "the temptation" for Walgreens (WBA) to do "something" in terms of M&A will grow over time and the "something" it may consider could include either acquiring AmerisourceBergen (ABC) or LabCorp (LH). His analysis points to LabCorp being a less complicated, "but much less accretive," deal, said Ransom. Given Walgreens' existing ownership of about a 26% stake in AmerisourceBergen, he estimates 16% accretion from buying the company for $95 per share in cash if he assumes $500M of synergies and $2B of opioid fines financed with debt, the analyst tells investors. Though such a deal would make financial sense, he does not think investors would "be overly excited about the strategic upside," Ransom tells investors. While he argues that LabCorp "offers more strategic upside," such a hypothetical deal also has less financial benefit, according to Ransom.
05/20/19
MZHO
05/20/19
NO CHANGE
Target $174
MZHO
Neutral
LabCorp price target raised to $174 from $150 at Mizuho
Mizuho analyst Ann Hynes raised her price target for Neutral-rated LabCorp (LH) to $174 from $150 and for Buy-rated Quest Diagnostics (DGX) to $110 from $106. Despite the recent outperformance in the group, both stocks will continue to re-rate higher as investors anticipate the long-term upside potential from UnitedHealth (UNH) lab initiatives, Hynes tells investors in a research note. The analyst thinks UnitedHealth's initiatives to form a preferred lab network and focus on out-of-network lab spend will bring greater pricing transparency to the clinical lab industry. She sees both LabCorp and Quest benefiting over time.
05/30/19
PIPR
05/30/19
NO CHANGE
Target $45
PIPR
Overweight
Myriad Genetics trading 'well below slower growing' peers, says Piper Jaffray
Piper Jaffray analyst William Quirk says Myriad Genetics (MYGN) management remains optimistic over incremental private payer coverage for GeneSight, but points out they are now guiding to finalized decisions by calendar year end, which is about three-to-six months later than his previous expectations. Quirk suspects the negotiations are taking longer than expected due to the study dynamics. The analyst, while appreciating investors' frustration over Myriad shares, believes the stock is trading "well below slower growing" LabCorp (LH) and Quest Diagnostics (DGX). A couple reimbursement wins will be enough to create a rally, Quirk tells investors in a research note. He keeps an Overweight rating on Myriad Genetics with a $45 price target.

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Wayfair

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VF Corp.

$84.69

-1.7 (-1.97%)

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URBN

Urban Outfitters

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0.295 (0.97%)

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  • 19

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UAA

Under Armour

$17.29

-0.295 (-1.68%)

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ULTA

Ulta Beauty

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2.19 (0.91%)

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  • 05

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TJX

TJX

$58.40

-0.14 (-0.24%)

21:15
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  • 19

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TPR

Tapestry

$26.38

-0.295 (-1.11%)

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  • 20

    Nov

AFL

Aflac

$53.97

-0.04 (-0.07%)

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ROST

Ross Stores

$110.97

-1.16 (-1.03%)

21:00
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  • 21

    Nov

RL

Ralph Lauren

$111.44

-2.58 (-2.26%)

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RH

RH

$174.48

-0.18 (-0.10%)

20:56
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PVH

PVH Corp.

$96.91

0.14 (0.14%)

20:53
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  • 26

    Nov

JWN

Nordstrom

$36.90

-0.52 (-1.39%)

20:51
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Nordstrom initiated at Barclays »

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  • 20

    Nov

NKE

Nike

$89.51

-0.52 (-0.58%)

20:46
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EYE

National Vision

$27.03

0.24 (0.90%)

20:43
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LB

L Brands

$17.53

0.02 (0.11%)

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  • 21

    Nov

BABA

Alibaba

$186.97

0.26 (0.14%)

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  • 19

    Nov

ENR

Energizer

$42.01

-1.1 (-2.55%)

, SPB

Spectrum Brands

$51.19

-0.76 (-1.46%)

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ENR

Energizer

$42.01

-1.1 (-2.55%)

SPB

Spectrum Brands

$51.19

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SSYS

Stratasys

$20.74

0.04 (0.19%)

FVRR

Fiverr

$21.56

-0.47 (-2.13%)

MTOR

Meritor

$23.44

-0.25 (-1.06%)

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DDOG

Datadog

$34.40

0.89 (2.66%)

20:02
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Datadog establishes Japanese subsidiary »

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  • 12

    Nov

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    Nov

NKE

Nike

$89.51

-0.52 (-0.58%)

, AMZN

Amazon.com

$1,778.33

6.63 (0.37%)

19:40
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Nike says to end retail pilot project w/ Amazon.com but continue AWS partnership 

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NKE

Nike

$89.51

-0.52 (-0.58%)

AMZN

Amazon.com

$1,778.33

6.63 (0.37%)

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HPE

HP Enterprise

$17.34

-0.11 (-0.63%)

, FJTSY

Fujitsu

$0.00

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HPE

HP Enterprise

$17.34

-0.11 (-0.63%)

FJTSY

Fujitsu

$0.00

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  • 25

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