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Bull’s Eye Report: Covance Inc. (CVD)

Biotech stock CVD presents a strong chart


At, we strive to “own the best and ignore the rest” in our equity portfolios. Toward this end, each day we search our database for a “top stock” (a top rated company in terms of earnings strength as well as company and industry performance) that presents a strong technical “set up” and a good entry point.

In short, when our equity team is looking to add a stock to one of our portfolios, the “bull’s eye” stock shown below is generally their first choice.


Company Symbol Industry Stock Rating YTD% Gain S.T. Stop Loss
Covance Inc CVD Life Sciences Tools & Services 9.2 +25.44% $71.53

Why We Like The Stock:

Covance Inc. (NYSE:CVD) is our most compelling buy today due to the fact that it is a top rated stock (in terms of earnings strength and company/industry performance) with a positive technical set-up. Since October of 2012, CVD has been in a firm uptrend, making higher highs and higher lows while operating above its 50-day moving average the entire time. While its peer stocks like PerkinElmer (NYSE:PKI), Bio-Rad Labs (NYSE:BIO), and Bruker Corp. (NASDAQ:BRKR) have all exhibited weakness this past month, CVD has been an outperformer with a sound chart. We like CVD at current prices for a trade as long as it stays above its 50-day moving average, which is currently at $71.70.

We Would Be Buyers:

At the current price (~$72.95).

Company Profile:

Covance Inc. is a drug development services company providing a range of early-stage and late-stage product development services on a worldwide basis primarily to the pharmaceutical, biotechnology and medical device industries. The company also provides laboratory testing services to the chemical, agrochemical and food industries. The services it provides constitutes two segments: early development services, which includes discovery support services, preclinical services and clinical pharmacology services, and late-stage development services, which includes central laboratory, Phase II-IV clinical development, and market access services.

Stock Rating: 9.2

The Stock Rating indicates the combined score of our proprietary Earning Strength and Company Performance models. The rating scale is 0 – 10 with 10 being the highest.

Covance Inc. – Last Three Months

Covance performance chart over the last 3 months

Covance Inc. – Last 12 Months

Covance performance chart over the last 12 months

Covance Inc. – Last Five Years

Covance performance chart over the last 5 years

Looking to trade the Bull’s Eye stock picks? Click here to download our free Special Report, “How We Identify Our “Bull’s Eye” Picks & How You Can Profit Trading Them”

At the time of publication the editor and affiliated companies own the following positions: None

Note: Positions may be bought or sold while this publication is in circulation without notice.

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