Covance CVD

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    1. Strong Revenue Growth Continues at WuXi, but Margin Contraction Weighs on Earnings Growth

      Commentary

      Thu, 13 Nov 2014

      posted strong growth of 11%. This was well in excess of the 3%-7% growth posted by early-stage U.S. peers Covance and Charles River, although WuXi is growing off a much smaller base. Longer term, we expect the U.S. business to

    2. UPDATE 3-LabCorp to pay $6.1 bln for drug trial company Covance

      Headlines

      Mon, 3 Nov 2014

      * Offer represents premium of 32 pct to Covance 's Friday closing

    3. LabCorp Takeover Offers Attractive Price for Covance Shareholders

      Commentary

      Mon, 3 Nov 2014

      Covance announced that it has agreed to be acquired by LabCorp for a mixture of cash and stock equal to approximately $105 per Covance share. For Covance shareholders, we think LabCorp’s offer represents an attractive

    4. LabCorp Plans for Covance Acquisition; Our Fair Value Estimate Stands

      Commentary

      Mon, 3 Nov 2014

      announcement of its impending acquisition of Covance , we think investors may not fully ..... incorporating our assumptions about the Covance business and LabCorp's financing ..... raising our fair value estimate on Covance to the $105 offer price. We think

    5. Charles Rivers Posts Strong 2Q Results as Early Stage Demand Finally Returns

      Commentary

      Thu, 7 Aug 2014

      year. We believe this segment is the best comparison to Covance 's early-stage business, and Charles River’s performance compares favorably to Covance 's early-stage reported revenue of 7.7%. While Charles

    6. Quintiles Posts Solid 2Q, Weak Bookings Unlikely to Be a Cause for Concern

      Commentary

      Thu, 31 Jul 2014

      rather than a more concerning slowdown in demand. Based on the strong book/bill ratios we have seen out of its peers Covance and ICON, which have already reported this quarter, we are inclined to agree with management. The firm's less attractive

    7. Covance Posts Light Results Relative to Peers, but Still on Track to Meet Full-Year Estimates

      Commentary

      Fri, 2 May 2014

      Covance reported first-quarter results that slightly ..... industrywide overcapacity and weak demand, but Covance has shown signs of improvement. The segment has ..... however, it was boosted by 10.9% growth in Covance ’s large central lab business. The clinical

    8. Charles River Posts Solid 4Q as Preclinical Services Finally Rebound

      Commentary

      Thu, 13 Feb 2014

      growth since 2008. Management stated it is stealing market share from competitors, which we believe is accurate given that Covance reported just 5% revenue growth for its early-stage business in the fourth quarter.

    9. Covance 4Q Results Meet Expectations, Early-Stage Business Shows Signs of Improvement

      Commentary

      Wed, 5 Feb 2014

      Covance reported solid fourth-quarter results that ..... growth in the clinical development business. Covance ’s book-to-bill ratio held steady at ..... growth is sustainable over the near term. Covance was able to leverage the strong growth into

    10. Late-Stage Businesses Drive Narrow Moats for CROs

      Headlines

      Fri, 29 Nov 2013

      the CROs we cover: Quintiles Q, Covance CVD , Parexel PRXL, ICON ICLR, Charles ..... enrollment and drug development. Covance CVD estimates that more than 50 ..... development CROs we cover--Quintiles, Covance , ICON, and Parexel--fueled by

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