Labcorp Holdings Inc Stock Price, News & Analysis

Labcorp (NYSE: LH) has announced it will release its fourth quarter 2024 financial results before market opens on February 6, 2025. The company will host a conference call and webcast at 9 a.m. ET on the same day to discuss the results.

The earnings release and financial information will be available on Labcorp's Investor Relations website. Participants can join the listen-only webcast and conference call through registration, with recommended arrival 10 minutes before start time. A replay of the webcast will be accessible approximately two hours after the event and remain available until January 24, 2026.

Geneoscopy has successfully closed a $105 million Series C funding round, led by Bio-Rad Laboratories (NYSE: BIO). The funding will support the launch of ColoSense®, a non-invasive colorectal cancer screening test, and advance diagnostic innovations for inflammatory bowel disease.

The investment round included participation from notable investors including Petrichor, Labcorp, Morningside Ventures, and others. Geneoscopy's technology combines RNA isolation from stool samples with Bio-Rad's Droplet Digital™ PCR technology for effective cancer screening. Through a partnership with Labcorp, ColoSense will be made widely available to healthcare providers.

This funding follows FDA approval of ColoSense and aims to address the rising incidence of colorectal cancer, particularly among people under 50. The test offers a non-invasive alternative to traditional colonoscopies, potentially increasing screening accessibility for millions of eligible individuals who currently avoid testing.

Labcorp (NYSE: LH) has launched a new commercial H5 bird flu molecular test in the United States to diagnose human infections with H5N1 virus. The test development, supported by the CDC, comes amid a multistate outbreak affecting poultry and dairy cows, with recent human cases reported in dairy and poultry workers. Healthcare providers can now order the test for suspected cases, collecting nasopharyngeal swab specimens for PCR analysis.

While current public health risk remains low, the test enhances testing infrastructure and supports public health preparedness. The CDC is monitoring human cases, and the USDA is conducting surveillance of milk supply and dairy herds. This initiative follows Labcorp's previous collaborations with CDC on testing for emerging viruses like Zika, COVID-19, and mpox.

Outcomes4Me and Labcorp will present findings from their joint biomarker awareness study at the 2024 San Antonio Breast Cancer Symposium. The research focused on HER2-low awareness in metastatic breast cancer patients. The study revealed that 41.9% of patients with known HER2 status were not well-aware of HER2-low classification, and 51.3% of HER2-negative patients didn't recall discussing HER2-low with their oncologists.

Through a digital education campaign including discussion guides and webinars, the initiative showed promising results: 60.9% of patients with unknown HER2 status felt likely to discuss testing with their oncologist after engaging with the educational content. The study demonstrates how digital patient education can effectively increase biomarker awareness and encourage patient-provider discussions about testing.

Labcorp (NYSE: LH) announced that Executive Vice President and CFO Glenn Eisenberg will retire, with Julia Wang appointed as the new CFO effective December 2, 2024. Eisenberg will remain as Special Advisor to the CEO through April 2025. During Eisenberg's 10-year tenure, Labcorp doubled its revenues, completed approximately 100 acquisitions worth $11 billion, and returned over $6 billion to shareholders through repurchases and dividends. Wang joins from BeiGene, where she served as CFO and was key in driving business transformations through growth acceleration and operational efficiency.

Praia Health has secured a strategic investment from Labcorp Venture Fund and announced a collaboration to enhance patient lab ordering experiences. The partnership will integrate Praia Health's technology with Labcorp's testing capabilities to streamline lab testing processes. Praia's platform will provide personalized notifications within health systems' mobile apps, allowing patients to easily schedule lab tests and locate appropriate Labcorp facilities. The collaboration will initially launch at Providence's Puget Sound location, with plans to expand to other healthcare systems nationwide.

Labcorp (NYSE: LH) reported strong Q3 2024 results with revenue increasing 7.4% to $3.28 billion from $3.06 billion last year. Adjusted EPS rose to $3.50 from $3.38, while diluted EPS decreased to $2.00 from $2.11. The company updated its full-year 2024 guidance with revenue growth of 6.6% to 7.3% and adjusted EPS range of $14.30 to $14.70. During the quarter, Labcorp announced three new acquisitions/lab management agreements and completed two acquisitions, including select assets of BioReference Health and Invitae. Free cash flow was $162 million, down from $171 million in the previous year.

NOWDiagnostics (NOWDx) has announced a collaboration with Labcorp to distribute its First To Know® Syphilis Test in professional and healthcare settings across the U.S. This FDA-authorized over-the-counter test provides results in 15 minutes using a drop of blood. Labcorp plans to offer the test to professionals and hospitals by the end of 2024 and directly to patients through Labcorp OnDemand in 2025.

The collaboration aims to address the 80% increase in syphilis cases since 2018, affecting over 207,000 people, including more than 3,700 newborns in 2022. The partnership will expand access to testing, supporting earlier detection and treatment. Labcorp will also be the U.S. distribution partner for NOWDx's ADEXUSDx® hCG test used in hospital settings.

Labcorp (NYSE: LH) has expanded its STI testing portfolio with the First to Know® Syphilis Test, the first FDA-authorized over-the-counter blood test for syphilis. As the exclusive distributor for NOWDiagnostics (NOWDx) in the U.S., Labcorp will offer this rapid test to healthcare providers nationwide by the end of 2024 and to patients through Labcorp OnDemand in 2025.

The test provides results in 15 minutes using a single drop of blood from a fingerstick. This expansion aims to combat the rising syphilis cases in the U.S., which have increased by 80% between 2018 and 2022, reaching over 207,000 reported cases in 2022. Labcorp's syphilis testing volume has more than doubled in the past decade, exceeding 5.5 million tests annually.