Exiting This Healthcare Name Amid Surge
Locking in a nice double-digit gain and rebuilding cash along the way.
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| Symbol | Transaction Type | # Shares Traded | Recent Price $ | Shares Owned After Trade | % Portfolio |
|---|---|---|---|---|---|
| LH | Sell | 220 | 296.07 | 0 | 0.0 |
After you receive this alert, the Portfolio will sell its remaining 220 shares in Labcorp (LH) at or near $295. This will close out the Portfolio’s LH position with a gain near 25% on this final tranche of shares.
We are taking advantage of Thursday’s pop in LH shares to wind down the Portfolio’s remaining position in the shares. While we continue to think the long-term prospects for Labcorp’s business are favorable, we have to balance the business with what we see in the stock. By that we mean the shares are once again at or near levels, they’ve topped out multiple times over the last several months and are once again back in an overbought condition.
That, along with the escalating tensions between the U.S. and Iran and the impact that has lifted the 10-year Treasury yield above 4.7%, has us looking to boost our cash position.
As we make this move, we will place LH shares into the Bullpen and look to re-engage the shares at more favorable risk-to-reward levels.
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(Please note that we are looking to execute these trades at or near the share price mentioned above. Once the trade is completed, subscribers can see the trade’s executed price here. Be sure to toggle the chart to sort by Purchase Date.)
At the time of publication, TheStreet Pro Portfolio was long LH.
