Bank Cuts LabCorp, Quest Stock; Bio-Reference Nicked by Shrapnel

By Kirell Lakhman

LabCorp and Quest’s stock today were downgraded by a prominent investment bank.

Credit Suisse cut both companies’ shares to Neutral from Outperform. Investors took the news badly. By mid-morning, shares in Quest were trading down 2.10 percent at $52.12, while LabCorp’s stock was down 2.21 percent at $66.92.

It is the second downgrade this year for both labs. Here’s the history for Quest and LabCorp.

Not surprisingly, Bio-Reference Labs, the only other publically traded reference lab in the US, was nicked by shrapnel: In mid-morning trade, its stock was down nearly one-third of one percent at $34.39. It has also been downgraded so far this year.