On Tuesday, Labcorp Holdings received an upgrade to its Relative Strength (RS) Rating, from 70 to 73.
How To Invest In Stocks In Both Bull And Bear Markets
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that shows how a stock's price performance over the trailing 52 weeks compares to other publicly traded companies.
History reveals that the best stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if Labcorp Holdings can continue to show renewed price strength and hit that benchmark.
While the stock is not near an ideal buy point right now, see if it goes on to form and break out of a proper consolidation.
Top and bottom line growth moved higher last quarter. Earnings were up 10%, compared to 4% in the prior report. Revenue increased from 5% to 10%.
The company earns the No. 12 rank among its peers in the Medical-Services industry group. GeneDx Holdings, Hims & Hers Health and Precipio are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
