Before the opening bell on Monday, LabCorp (LH) released its first quarter financial results. Here’s what the results mean for mutual fund investors.
Inside LH’s Result
Earnings
The company reported earnings of $0.7 million, or 1 cent per share, down from $113.1 million, or $1.31 per share, last year. Adjusted earnings came in at $1.73 per share, above analysts’ view of $1.63.
Revenue
Revenue increased to $1.79 billion from $1.43 billion last year. Analysts expected to see revenue of $1.79 billion.
Acquisition Charges
The company reported that its first quarter profits took a hit due to restructuring and acquisition charges. The company recently closed a $5.7 billion deal to acquire drug company Covance. This purchase is one of many for LabCorp, which has been growing its business and benefiting from the transactions.
Mutual Funds to Watch
Investors interested in LH may be interested in the funds listed below. These funds currently have the largest stakes in the company.
| Symbol | Mutual Fund | Stake |
|---|---|---|
| NYVTX | Davis NY Venture | 2.76% |
| VMCIX | Vanguard Mid Cap | 1.90% |
| VTSMX | Vanguard Total Stock Market Index | 1.75% |
The Bottom Line
The funds listed above allow investors to gain exposure to LH while remaining diversified. Investors interested in LH may also be interested in Quest Diagnostics (DGX).