Labcorp Holdings Inc Stock Price, News & Analysis

Labcorp (NYSE: LH) announced the appointment of Tom Pike as CEO of its Clinical Development business unit, effective January 9, 2023. Pike brings over 30 years of experience, with a focus on driving growth in the healthcare sector. He will lead the spin-off into an independent company, expected in mid-2023. Under his direction, Labcorp aims to leverage its extensive health data to enhance innovation in clinical trials. The current CEO, Paul Kirchgraber, will transition to a different role within Labcorp.

Labcorp (NYSE: LH), a prominent global life sciences company, announced participation in a fireside chat at the 41st Annual J.P. Morgan Healthcare Conference on January 10 at 4:30 p.m. (PT). Investors can access a live audio webcast via the Investor Relations website, which will also archive the session for later replay.

Labcorp, which reported $16 billion in revenue for FY2021, aims to provide essential information for healthcare decisions, serving clients in over 100 countries with a workforce exceeding 75,000 employees.

Kiyatec Inc. has successfully closed its Series C funding round, raising US$18 million led by new investor Bruker (BRKR) and supported by LabCorp (LH) and others. The funds will enhance the adoption of Kiyatec's clinical testing and preclinical pharma services, vital for improving cancer treatment outcomes. Kiyatec's 3D-Predict™ Glioma test has shown significant clinical correlations, allowing better therapy selection for glioblastoma patients. The company aims to grow its revenue through innovative testing and drug development partnerships.

Labcorp has launched operations at a new, larger anatomic pathology and histology laboratory in Los Angeles, aimed at enhancing its global testing capabilities. This facility, part of Labcorp's growth strategy, will feature advanced technologies including digital pathology and multiplex immunohistochemistry. The laboratory is designed for flexibility and future expansion, supporting clinical trials in areas like oncology and liver disease. Labcorp's global expansion also includes recent lab expansions in Singapore, Switzerland, and Japan.

Labcorp has partnered with Oracle Cerner to enhance lab operations across a leading nonprofit Catholic health system, managing hospital laboratories in 10 states. Labcorp acquired select outreach laboratory business assets, aiming to optimize workflows and improve efficiency through Cerner's advanced laboratory information system. This collaboration is expected to facilitate better patient care and faster diagnostic decisions, with lab test results influencing up to 80% of diagnostic decisions.

Labcorp (NYSE: LH), a global life sciences leader, announced that its executive management team will participate in a fireside chat at the Credit Suisse 31st Annual Healthcare Conference on November 8 at 1:25 p.m. PT. A live webcast of the event will be accessible through the Labcorp Investor Relations website and will be archived for future viewing.

Labcorp reported revenues of $16 billion in FY2021, employing over 75,000 professionals across more than 100 countries. For more information, visit www.labcorp.com.

Labcorp (NYSE: LH) reported third-quarter 2022 revenue of $3.61 billion, down 11.2% year-over-year, with diluted EPS at $3.90, a decline from $6.05 in Q3 2021. Adjusted EPS was $4.68 versus $6.82 last year. The company continues to face headwinds from reduced COVID-19 testing, which fell 11.8%. Operating income decreased to $469.4 million, 13% of revenue. Labcorp is progressing on a clinical development spin-off and established a long-term relationship with Ascension, enhancing its diagnostic capabilities. Updated guidance suggests revenue may decline further, particularly in COVID-19 testing.

Labcorp (NYSE: LH) has appointed Kirsten Kliphouse, president of Americas at Google Cloud, to its Board of Directors. Kliphouse, who brings extensive experience from technology giants like Microsoft and Red Hat, aims to enhance Labcorp's innovative strategies through technology. CEO Adam Schechter expressed confidence that her expertise will provide valuable insights and perspectives. Labcorp, a leader in life sciences, reported revenues of $16 billion in FY2021 and employs over 75,000 staff, serving clients in over 100 countries.

Labcorp (NYSE: LH) has declared a cash dividend of $0.72 per share, payable on December 9, 2022, to stockholders of record by the close of business on November 17, 2022. This announcement highlights the company's commitment to returning value to its shareholders. Labcorp operates globally, providing critical information for healthcare decisions and generating $16 billion in revenue for FY2021. The company boasts a workforce of over 75,000 employees, serving clients in more than 100 countries.