Welcome to our dedicated page for Labcorp Holdings news (Ticker: LH), a resource for investors and traders seeking the latest updates and insights on Labcorp Holdings stock.
Labcorp Holdings Inc. (NYSE: LH) is a global leader in innovative and comprehensive laboratory services, headquartered in Burlington, NC. With over 35 years of experience, Labcorp performs more than one million tests on approximately 400,000 samples daily, serving more than 220,000 clients worldwide, including physician offices, hospitals, managed care organizations, and biotechnology and pharmaceutical companies.
Labcorp operates a sophisticated laboratory network, consisting of roughly 2,000 patient-service centers. The company offers a broad range of 5,000 clinical lab tests ranging from routine blood and urine screens to complex oncology and genomic testing. Additionally, Labcorp is known for its scientific expertise in esoteric testing, genomics, and clinical and anatomic pathology.
Recently, Labcorp has been active in expanding its operations and capabilities. For instance, it was selected as the winning bidder to acquire assets of Invitae, a leading medical genetics company, for $239 million. This acquisition is expected to bolster Labcorp's genetic specialty testing capabilities, particularly in oncology and rare diseases.
Labcorp continues to innovate, having launched the first trimester preeclampsia screening test in the U.S., which helps determine the risk of developing preeclampsia before 34 weeks of pregnancy. The company's commitment to advancing maternal and fetal health is also evident in its comprehensive preeclampsia screening offerings across all trimesters of pregnancy.
Moreover, Labcorp announced enhancements to its precision oncology portfolio, including the launch of Labcorp Tissue Complete and OmniSeq INSIGHT for ctDNA. These offerings are designed to support biopharmaceutical companies in advancing cancer research and patient care globally.
Financially, Labcorp reported first-quarter revenue of $3.18 billion in 2024, a 4.6% increase from the previous year. The company's adjusted operating income for the quarter was $452.8 million, or 14.3% of revenue. Labcorp's ongoing financial stability is demonstrated by its strong cash balance and total debt management.
Labcorp has a significant impact in the healthcare industry, supporting 84% of the new drugs and therapeutic products approved by the FDA in 2023. With over 67,000 employees serving clients in approximately 100 countries, Labcorp is dedicated to providing insights and advancing science to improve health and lives globally. To learn more about Labcorp, visit www.labcorp.com.
Labcorp (NYSE: LH) has announced a new capital allocation plan, which includes initiatives to enhance shareholder returns. The Board of Directors approved the initiation of a quarterly cash dividend, targeting a payout ratio of 15-20% of adjusted earnings, and authorized a
Labcorp (NYSE: LH) has successfully closed its acquisition of Toxikon Corporation, enhancing its nonclinical development portfolio. This strategic move aims to strengthen Labcorp's presence in the pharmaceutical and biotechnology sectors, especially in Boston, Massachusetts. The acquisition was first announced on November 18, although specific financial details remain undisclosed. Labcorp continues to grow its capabilities in providing essential insights for healthcare advancements, backed by a revenue of $14 billion in FY 2020.
Labcorp (NYSE: LH) and ConcertAI, a leader in AI and real-world data solutions, have announced a collaboration aimed at optimizing precision oncology research. This partnership seeks to improve clinical trial design, enhance patient recruitment, and ensure equitable access to trials. By leveraging ConcertAI’s software and Labcorp’s expertise, they aim to utilize real-world data and AI for more effective oncology trials. The collaboration focuses on diversity in patient recruitment and aims to generate actionable insights for quicker trial execution.
Labcorp (NYSE: LH) is expanding its COVID-19 PCR testing services by offering observed self-collection in over 500 patient service centers (PSCs) nationwide, with plans to increase to over 1,000 sites by mid-December. The service is aimed at asymptomatic individuals, allowing them to collect samples under a phlebotomist's supervision. Testing costs $119, and results are available within 1-2 days. Labcorp has conducted nearly 54 million COVID-19 PCR tests since the pandemic began, playing a crucial role in public health efforts.
Labcorp (NYSE: LH) announced a definitive agreement to acquire Toxikon, a contract research organization specializing in nonclinical testing services. This acquisition is set to enhance Labcorp's nonclinical development portfolio and create a stronger market presence in the Boston area. Toxikon, with annual revenues of approximately
Labcorp (NYSE: LH) will participate in a virtual fireside chat at the Credit Suisse 30th Annual Healthcare Conference on November 9 at 1:00 p.m. ET. A live webcast will be available on Labcorp's Investor Relations website and will be archived for replay. Labcorp is a leading global life sciences company, providing crucial information for healthcare decisions with a revenue of $14 billion in FY2020 and employing over 70,000 individuals worldwide.
Labcorp (NYSE: LH) announced that Dr. Marcia Eisenberg, Chief Scientific Officer, was recognized as one of Fierce Healthcare’s “2021 Women of Influence.” This accolade highlights her significant impact on healthcare innovation, particularly during the COVID-19 pandemic. Under her leadership, Labcorp has conducted over 50 million molecular tests and collaborated with the FDA for Emergency Use Authorization of their COVID-19 testing solutions. Dr. Eisenberg is also noted for mentoring female scientists and advancing healthcare quality globally.
Labcorp (LH) reported Q3 2021 revenue of $4.06 billion, up 4.3% year-over-year, while diluted EPS declined to $6.05 from $7.17 last year. Adjusted EPS also fell to $6.82 from $8.41. The company raised its full-year revenue guidance to a range of 13.0% to 14.0% growth, adjusting EPS guidance to $26.00 to $28.00. Free cash flow for Q3 stood at $650 million, down from $709 million in the same period last year. Labcorp's Base Business grew 14.6%, driven by acquisitions and organic growth, despite a decline in COVID-19 testing.
Pillar Biosciences has partnered with Labcorp (NYSE: LH) to deliver genomic testing for cancer patients. The collaboration involves the oncoReveal™ Essential Myeloproliferative Neoplasm (MPN) panel, utilizing next-generation sequencing (NGS) technology. This test aims to enhance diagnosis and monitoring for blood and bone marrow diseases. Executives from both companies highlighted the significance of this alliance in expanding access to precision medicine and supporting informed treatment decisions.
Labcorp (NYSE: LH) announced receiving Emergency Use Authorization (EUA) from the U.S. FDA for a combined home collection kit that simultaneously detects COVID-19 and influenza A/B in individuals aged 2 and over. The kit will be available at no upfront cost to eligible individuals who meet specific clinical guidelines. With this new kit, users can conveniently test at home, aiding in informed treatment decisions. Results are typically available within 1-2 days. Labcorp aims to enhance testing access and efficiency with this innovative solution.
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