LabCorp (LH) Could See a Hit from Aetna/Coventry Health Deal
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Rating Summary:
34 Buy, 5 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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In addition to implications for CVS Caremark (NYSE: CVS) and Express Scripts (Nasdaq: ESRX), today's Aetna (NYSE: AET) buyout of Coventry Health (NYSE: CVH) could also hurt LabCorp (NYSE: LH) in favor of Quest Diagnostics (NYSE: DGX).
Piper Jaffray analyst Kevin Ellich said Coventry's testing volume will now likely shift to Quest Diagnostics from LabCorp after the deal.
Despite the possible loss of business the impact will be manageable. The firm sees LabCorp revenue decreasing about $20 million, with an EPS impact of about $0.03.
Piper Jaffray analyst Kevin Ellich said Coventry's testing volume will now likely shift to Quest Diagnostics from LabCorp after the deal.
Despite the possible loss of business the impact will be manageable. The firm sees LabCorp revenue decreasing about $20 million, with an EPS impact of about $0.03.
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