Labcorp Holdings Inc Stock Price, News & Analysis

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.

Labcorp (NYSE: LH) has finalized a long-term laboratory partnership with Ascension, a major non-profit health system in the U.S. This strategic collaboration includes Labcorp acquiring select assets from Ascension's outreach laboratory business and managing its hospital-based laboratories across several states, including Alabama, Florida, and Texas. The partnership enhances community access to Labcorp's clinical services, including advanced diagnostics and at-home test collection.

Labcorp (NYSE: LH) will release its third quarter 2022 financial results on October 27, 2022, before market opening. A conference call and webcast will begin at 9 a.m. ET to discuss the earnings. The results will be available on the Labcorp Investor Relations website. Labcorp, a leading global life sciences firm, reported a revenue of $16 billion in FY2021, providing valuable insights for healthcare decisions across multiple sectors.

Labcorp (NYSE: LH) has announced that its executive management team will participate in a fireside chat at the Baird 2022 Global Healthcare Conference on September 13 at 9:05 a.m. ET. A live webcast will be available on the Labcorp Investor Relations website and archived for replay. Labcorp is a leading global life sciences company, providing critical information for healthcare decision-making, with over 75,000 employees and $16 billion revenue in FY2021.

Labcorp (NYSE: LH) has completed the acquisition of RWJBarnabas Health’s outreach laboratory business, enhancing its presence in New Jersey. This strategic move aims to improve access to laboratory services for patients and physicians, offering a broader test menu and reduced out-of-pocket costs. Labcorp will leverage its extensive network, including patient service centers, and provide enhanced service to underserved areas. The financial specifics of the transaction remain undisclosed.

BD (Becton, Dickinson and Company) has entered into a collaboration with Labcorp to develop flow cytometry-based companion diagnostics (CDx) aimed at improving cancer treatment outcomes. This strategic partnership combines BD's expertise in flow cytometry with Labcorp's strengths in diagnostics and drug development, creating a comprehensive solution for the pharmaceutical industry. The collaboration will facilitate the development and commercialization of CDx, enhancing patient access to personalized therapies.

Labcorp (NYSE: LH) reported Q2 revenue of $3.7 billion, a 3.7% decline from last year, with diluted EPS at $3.87 compared to $4.76. Adjusted EPS also fell to $4.96 from $6.13. The company announced plans to spin off its Clinical Development business, targeting completion in H2 2023. Free cash flow improved to $429 million from $390 million in the previous year. Full-year adjusted EPS guidance was raised to $19.00 - $21.25. Significant investments in innovative diagnostics were made, addressing various health conditions.

Labcorp (NYSE: LH) announced its Board of Directors has authorized a tax-free spin-off of its Clinical Development business, creating two independent, publicly traded companies. This strategic move is designed to enhance operational focus and capitalize on market opportunities. The Clinical Development business will position itself as a leading Contract Research Organization (CRO), while Labcorp will continue as a global laboratory leader. The spin-off aims to provide each entity with targeted growth strategies and more focused capital structures. Completion is anticipated in the second half of 2023, pending regulatory approvals.

Labcorp has launched a unique Clinical Decision Support (CDS) interpretative report for its Stinging Insect Component-Specific IgE Test. This test aims to enhance patient management regarding venom allergies, impacting nearly 10 million Americans. The report, developed with input from leading experts, offers specific allergen identification and treatment suggestions, aiming to improve the efficacy of venom immunotherapy. Labcorp remains the only reference laboratory offering such testing, supporting healthcare providers in diagnosing and managing insect venom allergies effectively.