New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 19, 2014
08:47 EDTLHLabCorp announces availability of InformaSeq non-invasive prenatal test
Laboratory Corporation of America Holdings announced the availability of the informaSeq Prenatal Test. The informaSeq Prenatal Test is an advanced, non-invasive, next-generation prenatal screening assay that can assess risk for multiple fetal chromosomal aneuploidies, or abnormalities in the number of chromosomes, from a single maternal blood draw. There are testing options for several additional common sex-related aneuploidies. The test is offered through Integrated Genetics, part of the LabCorp Specialty Testing Group of laboratories that offer advanced esoteric and genomic testing.
News For LH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
February 26, 2015
14:53 EDTLHLabCorp management to meet with William Blair
Meeting to be held in Burlington, VT on March 4 hosted by William Blair.
10:00 EDTLHOn The Fly: Analyst Initiation Summary
Subscribe for More Information
07:24 EDTLHLabCorp added to Conviction Buy List from Not Rated at Goldman
Subscribe for More Information
07:24 EDTLHQuest Diagnostics downgraded to Buy from Conviction Buy at Goldman
Goldman removed Quest Diagnostics (DGX) from the Conviction Buy List and added LabCorp (LH) to the list. The firm believes LabCorp will have higher average organic growth and earnings growth, and views its valuation as more attractive. The firm rates Quest Diagnostics a Buy with a $77 price target.
February 25, 2015
15:28 EDTLHLabCorp management to meet with Evercore ISI
Subscribe for More Information
February 23, 2015
09:59 EDTLHOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:12 EDTLHLabCorp upgraded to Overweight from Underweight at Morgan Stanley
Subscribe for More Information
07:32 EDTLHLabCorp resumed with a Market Perform at Wells Fargo
Price target range $120-$129.
06:36 EDTLHLabCorp upgraded to Outperform from Neutral at Credit Suisse
Subscribe for More Information
05:41 EDTLHLabCorp upgraded to Overweight from Neutral at Piper Jaffray
Subscribe for More Information
February 20, 2015
07:13 EDTLHLabCorp says has temporarily suspended share repurchase program
Subscribe for More Information
07:12 EDTLHLabCorp sees FY15 adjusted EPS $7.35-$7.70, consensus $7.34
Guidance includes accretion of approximately 35c-40c to earnings in 2015 from the acquisition of Covance. The Company expects to have approximately 102 million total weighted-average shares outstanding in 2015, after issuing approximately 15.3 million shares for the Covance transaction. Sees FY15 total revenue growth of approximately 40%-44%, after adjusting for approximately 160 basis points of negative currency impact. Revenue growth in the clinical laboratory business of approximately 3%-5%. Consensus is $6.16B. Revenue growth in the Covance business of approximately 4%-6%, after adjusting for approximately 330 basis points of negative currency impact. Sees FY15 operating cash flow $1.075B-$1.1B, CapEx $325M-$350M, free cash flow $725M-$775M. Free cash flow will be used to pay down debt and for tuck-in acquisitions. The company has temporarily suspended its share repurchase program until it approaches its target leverage ratio of 2.5 times debt to EBITDA. The company expects cost synergies from business optimization, corporate overhead and purchasing and logistics in excess of $100M within three years, with associated one-time costs of approximately $50M. The company expects synergies in 2015 of approximately $35M, with associated one-time costs of approximately $20M. Project LaunchPad will re-engineer the Company’s systems and processes, leverage technological advancements, create a sustainable, more efficient business model, and improve the experience of all stakeholders. The company expects this initiative to drive net savings in excess of $150M over the next three years, with associated one-time costs of approximately $30M. The company expects net savings from this initiative in 2015 of approximately $50M, with associated one-time costs of approximately $15M.
07:09 EDTLHLabCorp reports Q4 adjusted EPS $1.65, consensus $1.63
Reports Q4 revenue $1.51B, consensus $1.5B.
February 19, 2015
15:32 EDTLHNotable companies reporting before tomorrow's open
Subscribe for More Information
09:22 EDTLHLabCorp completes acquisition of Covance
LabCorp (LH) announced the completion of its acquisition of Covance (CVD), following its entry into a definitive purchase agreement on November 2, 2014. At closing, the purchase consideration was valued at $107.19 per Covance share, consisting of $75.76 in cash and 0.2686 LabCorp shares for each Covance share, or an equity value of approximately $6.2B and an enterprise value of approximately $5.7B. The closing of the transaction follows the receipt of all necessary regulatory requirements and approval of the transaction by Covance shareholders on February 18. With the closing of the transaction, Covance common stock will cease trading and will no longer be listed on the NYSE.
February 18, 2015
09:27 EDTLHCovance stockholders approve acquisition by LabCorp
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use