Laboratory Corp American Holdings is a leading global life sciences company that offers comprehensive laboratory services, including diagnostic testing and drug development support
They operate advanced clinical laboratories that conduct a wide array of tests, specializing in areas such as genetics, infectious diseases, and routine screenings. The company also provides end-to-end solutions for the pharmaceutical and biotechnology industries, assisting in the development of new therapies and drugs through clinical trial testing and regulatory support. By leveraging cutting-edge technology and a vast network of resources, Laboratory Corp aims to improve healthcare outcomes and enhance patient care through accurate and timely laboratory results.
Over the past six months, Labcorp has been a great trade, beating the S&P 500 by 6.9%. Its stock price has climbed to $255.01, representing a healthy 13.9% increase. This was partly thanks to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
The research firm noted that post-pandemic utilization rates have remained high, and Labcorp is positioned to capitalize on this trend through its core diagnostics business.
Healthcare diagnostics company Labcorp Holdings (NYSELH) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 9.8% year on year to $3.33 billion. The company’s full-year revenue guidance of $13.97 billion at the midpoint came in 1.4% above analysts’ estimates. Its non-GAAP profit of $3.45 per share was 1.7% above analysts’ consensus estimates.
Labcorp's Q4 EPS of $3.45 topped estimates, with sales rising 9.8% to $3.33 billion. 2025 guidance points to continued growth in diagnostics and biopharma.
Praia Health, the consumer experience orchestration platform for health systems, is pleased to announce it has secured a strategic investment from the Labcorp Venture Fund and will collaborate with Labcorp, a global leader of innovative and comprehensive laboratory services, to streamline and personalize the patient experience for lab orders and testing within select health systems.
NOWDiagnostics, Inc. (NOWDx), a developer of over-the-counter (OTC) and point-of-care (POC) diagnostic tests, today announced that Labcorp, a global leader of innovative and comprehensive laboratory services, will be the exclusive U.S. distributor of its First To Know® Syphilis Test in professional and healthcare settings. Through Labcorp’s extensive distribution network and trusted presence in clinical settings, this collaboration will expand access to the syphilis test that provides results in 15 minutes with as little as a drop of blood. Labcorp plans to offer the test to professionals and hospital settings by the end of 2024 and directly to patients through Labcorp OnDemand in 2025.
Labcorp considers boosting its mpox testing capacity as the WHO declares a global health emergency. Companies like Roche and Quest Diagnostics are also monitoring demand and expanding testing services.
Top 10 stocks with highest gains last week, including Exact Sciences, Alnylam Pharmaceuticals, Resmed, Coca-Cola Consolidated, DexCom, Sprouts Farmers Market, UL Solutions, Labcorp Holdings, C.H. Robinson Worldwide, and DoorDash.
LabCorp reported Q2 2024 adjusted EPS of $3.94, surpassing expectations of $3.78. Sales increased by 6.2% to $3.22 billion, driven by organic revenue growth and acquisitions. LabCorp revised its 2024 EPS outlook to $14.30-$14.90 and raised revenue growth projections to 6.4%-7.5%.
