LabCorp is the world’s leading healthcare diagnostics company and just celebrated its 50th-anniversary last year. The firm’s exclusive partnership with UnitedHealthcare, the largest healthcare enterprise in the world, has been crucial to LabCorp’s continued success.
Today LH is focusing its laboratory efforts on coronavirus tests, analyzing 30,000+ tests per day. This is partially offsetting its massive declines in patient testing for other purposes, which gives it a bit of a hedge. The $2 trillion aid bill (CARES Act) that was passed last will provide LabCorp with further financial stability.
LH shares have taken a sizable hit from the pandemic, but I believe that its 34% plunge since mid-February is unjustified. This stock is trading at a considerable discount with its forward P/E sitting at its lowest level in over 2 decades.
LabCorp and its coronavirus testing is a necessity to the US today and will recieve whatever capital it requires to continue operating. I think it is likely that its coronavirus testing will continue to scale with time.
Source Zacks
Today LH is focusing its laboratory efforts on coronavirus tests, analyzing 30,000+ tests per day. This is partially offsetting its massive declines in patient testing for other purposes, which gives it a bit of a hedge. The $2 trillion aid bill (CARES Act) that was passed last will provide LabCorp with further financial stability.
LH shares have taken a sizable hit from the pandemic, but I believe that its 34% plunge since mid-February is unjustified. This stock is trading at a considerable discount with its forward P/E sitting at its lowest level in over 2 decades.
LabCorp and its coronavirus testing is a necessity to the US today and will recieve whatever capital it requires to continue operating. I think it is likely that its coronavirus testing will continue to scale with time.
Source Zacks