Last €84.30 EUR
Change Today +0.96 / 1.15%
Volume 0.0
CVD On Other Exchanges
Symbol
Exchange
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As of 11:11 AM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

covance inc (CVD) Snapshot

Open
€83.82
Previous Close
€83.34
Day High
€84.46
Day Low
€83.82
52 Week High
12/19/14 - €84.46
52 Week Low
10/15/14 - €58.11
Market Cap
4.8B
Average Volume 10 Days
40.0
EPS TTM
--
Shares Outstanding
56.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for COVANCE INC (CVD)

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covance inc (CVD) Details

Covance Inc. provides early-and late-stage services to the pharmaceutical, biotechnology, and medical device industries. Its early-stage development services include preclinical and clinical pharmacology services. The company’s late-stage services include biomarker services to biotech and pharmaceutical customers, with full management of Phase II and III clinical studies. It also provides lab testing services to the chemical, agrochemical, and food industries. The company was founded in 1987 and is based in Princeton, N.J.

11,863 Employees
Last Reported Date: 02/27/14
Founded in 1987

covance inc (CVD) Top Compensated Officers

Chairman and Chief Executive Officer
Total Annual Compensation: $1.0M
Chief Financial Officer and Corporate Senior ...
Total Annual Compensation: $407.5K
Executive Vice President and Group President ...
Total Annual Compensation: $455.5K
Executive Vice President and Group President ...
Total Annual Compensation: $421.0K
Chief Information Officer, Corporate Senior V...
Total Annual Compensation: $446.0K
Compensation as of Fiscal Year 2013.

covance inc (CVD) Key Developments

The Shareholders Foundation, Inc. Announces Investor Lawsuit Against Takeover of Covance Inc

The Shareholders Foundation Inc. announced that an investor, who currently holds shares of Covance Inc. (CVD), filed a lawsuit in effort to stop the proposed takeover of Covance Inc. by Laboratory Corporation of America Holdings for a value of approximately $105.12 per CVD share. Investors, who purchased shares of Covance Inc. prior to November 3, 2014, and currently hold any of those shares, have certain options. The plaintiff alleges that the defendants breached their fiduciary duties owed to CVD stockholders by agreeing to sell Covance Inc. too cheaply via an unfair process to Laboratory Corporation of America Holdings. On November 3, 2014, Laboratory Corporation of America Holdings and Covance Inc. announced that they have entered into an agreement under which LabCorp will acquire Covance Inc. for cash and LabCorp shares currently valued at $105.12 per Covance Inc. CVD share, or an equity value of approximately $6.1 billion and an enterprise value of approximately $5.6 billion. However, the plaintiff claims that the offer is too low and undervalues Covance Inc. In addition, the plaintiff claims that the process is also unfair to CVD stockholders.

Covance Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Year 2014

Covance Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $65,999,000 or $1.16 per diluted share on total revenue was $670,997,000 against net income of $44,201,000 or $0.78 per diluted share on total revenue was $647,050,000 a year ago. Income from operations was $76,519,000 compared to $62,622,000 a year ago. Income before taxes was $85,737,000 compared to $60,981,000 a year ago. On pro forma basis, total revenues of $670,997,000, income from operations was $79,722,000, income before taxes was $75,492,000, net income of $56,058,000 or $0.98 per diluted share against total revenues of $647,050,000, income from operations was $67,515,000, income before taxes was $65,874,000, net income of $47,264,000 or $0.83 per diluted share a year ago. Lower corporate expense, leading to pro forma operating margins of 12.7% and pro forma EPS growth of 18.2% to $0.98. For the nine months, the company reported net income of $133,752,000 or $2.32 per diluted share on total revenue was $2,024,393,000 against net income of $133,361,000 or $2.35 per diluted share on total revenue was $1,925,361,000 a year ago. Income from operations was $162,671,000 compared to $162,383,000 a year ago. Income before taxes was $166,336,000 compared to $174,238,000 a year ago. Net cash used in operating activities was $132,605,000 compared to $212,845,000 a year ago. Capital expenditures were $105,484,000 compared to $103,703,000 a year ago. On pro forma basis, total revenues of $2,024,393,000, income from operations was $226,774,000, income before taxes was $215,343,000, net income of $163,095,000 or $2.83 per diluted share against total revenues of $1,925,361,000, income from operations was $179,459,000, income before taxes was $174,914,000, net income of $134,059,000 or $2.36 per diluted share a year ago. The company expect full year 2014 free cash flow of approximately $130 million, net of capital expenditures of approximately $155 million. The free cash flow target for 2014 assumes net DSO at 40 days at December 31, 2014.

Covance Inc., Laboratory Corp. of America Holdings - M&A Call

Covance Inc., Laboratory Corp. of America Holdings - M&A Call

 

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Industry Analysis

CVD

Industry Average

Valuation CVD Industry Range
Price/Earnings 32.9x
Price/Sales 2.3x
Price/Book 3.5x
Price/Cash Flow 18.6x
TEV/Sales 1.9x
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