LabCorp's drug-development division stumbles, but management changes should address the issue.
LabCorp's second-quarter results were solid and generally consistent with our expectations. The narrow-moat firm remains on track to meet our full-year projections and we're leaving our fair value estimate unchanged. LabCorp also announced its plan to acquire Sequenom, primarily for its non-invasive prenatal tests and emerging liquid biopsy assays. We like the strategic fit with LabCorp’s expansive test menu and view this as another effort by management to remain on the cutting edge of where dia...Laboratory Corporation of America Holdings is a life sciences company that is focused on guiding patient care. The company reports its business in the following segments: LabCorp Diagnostics (LCD) and Covance Drug Development (CDD). LCD is an independent clinical laboratory business. LCD provides a menu of requested and specialty testing through a network of primary and specialty laboratories across the United States. CDD provides drug development, medical device and diagnostic development solutions from early-stage research to clinical development and commercial market access. CDD engages in early development and clinical trials in each therapeutic category.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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