Labcorp Holdings Inc Stock Price, News & Analysis

Labcorp (NYSE: LH) announced the pricing of a $1,000,000,000 offering of senior notes, divided into two tranches: $500,000,000 of 1.550% Senior Notes due 2026 and $500,000,000 of 2.700% Senior Notes due 2031. The Notes, which will bear interest from May 26, 2021, are set to close on the same date, contingent on customary conditions. Proceeds will be used to redeem outstanding Senior Notes maturing in 2022. The offering is led by BofA Securities, KeyBanc Capital Markets, and Wells Fargo Securities.

Labcorp (NYSE: LH) announced plans to offer senior notes in two tranches, which will rank equally with existing unsecured debt. The funds raised will be used to redeem outstanding senior notes due in February and August 2022. The offering will be managed by BofA Securities, KeyBanc Capital Markets, and Wells Fargo Securities, under an effective shelf registration statement filed with the SEC. Labcorp emphasizes that this announcement is not an offer to sell the notes and includes caution regarding forward-looking statements about the offering's success.

Labcorp (NYSE: LH) partners with the U.S. Department of Health and Human Services (HHS) to promote monoclonal antibody COVID-19 therapies. Patients testing positive via Labcorp's PCR tests will receive information on these treatments. As of May 7, Labcorp has conducted over 41 million COVID-19 PCR tests. Monoclonal antibody treatments, which have emergency use authorization from the FDA, can reduce severe symptoms if administered soon after positive diagnosis. HHS is committed to ensuring eligible patients are aware of available treatments to mitigate severe COVID-19 risks.

Labcorp (NYSE: LH) has announced an agreement to acquire select assets and intellectual property from Myriad Genetics' autoimmune unit, including the Vectra® rheumatoid arthritis assay. This acquisition aims to enhance Labcorp's diagnostics capabilities for rheumatoid arthritis, a condition expected to affect 26% of U.S. adults by 2040. The Vectra test, which analyzes biomarkers to measure disease activity, has been widely used, with over one million tests completed since 2010. The deal is expected to close by the end of Q3, subject to regulatory approvals.

Labcorp (NYSE: LH) reported a robust first-quarter performance for 2021, with revenue surging 47.4% to $4.16 billion, primarily driven by a 32.9% increase in COVID-19 testing. Adjusted EPS rose to $8.79 from $2.37 year-over-year. Operating income improved significantly to $1.06 billion, representing 25.4% of revenue. The company raised its full-year adjusted EPS guidance to $20.00-$24.00, showcasing confidence in ongoing growth, particularly in diagnostics and drug development ventures.

Labcorp (NYSE: LH) has launched the Pixel by Labcorp® COVID-19 PCR Test Home Collection Kit for small businesses, facilitating COVID-19 testing for companies with up to 120 employees. The initiative allows bulk purchasing to save on shipping costs and provides necessary testing for safe operations as businesses reopen. The kits can be self-administered and results are available within 1-2 days. Although the test is authorized under emergency use by the FDA, it reflects Labcorp's commitment to expand access to testing and support community health.

Labcorp (NYSE: LH) has announced its Annual Meeting of Shareholders, set to be webcast live on May 12 at 9:00 a.m. ET via www.Labcorp.com. An archived replay will be available for one year. Labcorp is a prominent global life sciences company that provides crucial information to aid healthcare professionals and patients in decision-making. With over 70,000 employees and a reported revenue of $14 billion in FY2020, Labcorp continues to innovate in diagnostics and drug development.

Labcorp (NYSE: LH) is set to announce its first quarter 2021 financial results before market opening on April 29, 2021. The company will host a conference call at 9:00 a.m. ET to discuss the results, which will be available on the Labcorp Investor Relations website. An audio replay will be accessible until May 13, 2021. Labcorp, a prominent global life sciences firm, reported $14 billion in revenue for FY2020, emphasizing its capability in diagnostics and drug development. The release includes forward-looking statements about COVID-19's impact on business operations.

Labcorp (NYSE: LH) announced the appointment of Kathryn Wengel, previously Executive Vice President at Johnson & Johnson, to its Board of Directors, expanding the board from 9 to 10 members. Wengel brings over 30 years of experience in managing healthcare organizations and global supply chains, which Labcorp anticipates will enhance its operational capabilities. Labcorp's Chairman and CEO, Adam Schechter, emphasized the importance of diverse perspectives in the boardroom, aiming to strengthen the company’s mission in healthcare.