UPDATE: Oppenheimer Starts Laboratory Corporation of America (LH) at Perform
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Price: $201.48 +1.02%
Rating Summary:
20 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
20 Buy, 15 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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(Updated - January 29, 2013 8:51 AM EST)
Oppenheimer initiates coverage on Laboratory Corporation of America (NYSE: LH) with a Perform.
Analyst Bret Jones comments, "As the most efficient testing provider, we believe LH is best positioned to absorb the mandated reimbursement cuts and expected future cuts. We also view the company’s esoteric business with the acquired genetic counselors as a key point of differentiation. With that said, the industry headwinds cause us to rate the shares Perform. In particular, we believe the 2% sequestration cut will likely be expanded. On the volume front, our survey work points to hospitals continuing to shift volume to their own outpatient and outreach labs. The company’s strong cash provides flexibility to deliver shareholder value, but we await the results of round two of the fiscal cliff negotiations."
For an analyst ratings summary and ratings history on Laboratory Corporation of America click here. For more ratings news on Laboratory Corporation of America click here.
Shares of Laboratory Corporation of America closed at $90.34 yesterday.
Oppenheimer initiates coverage on Laboratory Corporation of America (NYSE: LH) with a Perform.
Analyst Bret Jones comments, "As the most efficient testing provider, we believe LH is best positioned to absorb the mandated reimbursement cuts and expected future cuts. We also view the company’s esoteric business with the acquired genetic counselors as a key point of differentiation. With that said, the industry headwinds cause us to rate the shares Perform. In particular, we believe the 2% sequestration cut will likely be expanded. On the volume front, our survey work points to hospitals continuing to shift volume to their own outpatient and outreach labs. The company’s strong cash provides flexibility to deliver shareholder value, but we await the results of round two of the fiscal cliff negotiations."
For an analyst ratings summary and ratings history on Laboratory Corporation of America click here. For more ratings news on Laboratory Corporation of America click here.
Shares of Laboratory Corporation of America closed at $90.34 yesterday.
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