LabCorp’s stock hit a new 52-week low today after posting less than expected sales and profits. Even LabCorp supporting analysts downgraded the stock. Here’s one headline from MarketWatch “S&P DOWNGRADES OPINION ON SHARES OF LABCORP OF AMERICA…” Here’s another one “Laboratory Corp. Of America Holdings’ second-quarter net income fell 19% on restructuring costs as the lab-services provider lowered its 2008 outlook.”
At one point during the day LH stock was down almost $7, losing over 10% of the company’s market value. Laboratory Corporation of America’s stock trades on the New York Stock Exchange under the symbol LH.