The nation's second-largest independent clinical laboratory company captured our hearts when it announced recently that it expects 2008 net income to be in the range of $4.74 to $4.90 per share. Wall Street analysts were expecting 2008 earnings of $4.15 per share.
Among LabCorp's many charms: the company reported healthy cash flow in its last quarter, is expected to complete three acquisitions by the end of the first quarter and is likely to continue its aggressive share repurchase activity.
"Investors should take solace that the slowing economy has not significantly affected clinical laboratory operations and that [LabCorp.'s] focused strategy is poised to yield strong returns in 2008," wrote Bank of America analyst Robert Willoughby in a recent research note.
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