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Labcorp (LH), also known as Laboratory Corporation of America, is a life sciences company that provides vital clinical laboratory tests and test information to help doctors get the information they need to help their patients. Labcorp has a network of primary operating Labcorp branches, specialty testing laboratories, and Centers of Excellence that provide leading-edge technology.
The company was founded in 1978, went public in 1988, and became the Labcorp of today in 1995 after merging with National Health Laboratories. Labcorp has developed into one of the nation's premier clinical and anatomic pathology laboratories, thanks to various strategic mergers and acquisitions.
Labcorp's strong national presence allows Labcorp to offer comprehensive laboratory services zoomed into both general health issues and specialized testing in cancer, genomics, and women's health, which is otherwise unavailable in local labs.
LABCorp has a steady track record of steady earnings growth, and the company continues to expand through strategic acquisitions and partnerships. In November 2017, LabCorp acquired the assets of Reliable Medical Supply, a provider of medical supplies and services to patients with chronic conditions. In December 2017, Labcorp integrated its platforms in partnership with Flatiron Health, a leader in oncology-focused electronic health records.
On August 31, 2018, LabCorp announced the completion of its acquisition of the outstanding shares of Cellistics Systems, Inc., otherwise known as CellScript, a privately-held life science company that provides biologic reagents and gene editing technologies to support novel therapeutic discoveries. In June 2018, LabCorp acquired the assets of LabConnect, a biopharma-focused contract research organization that provides comprehensive sample collection, logistics, and central laboratory services. LabCorp is also a significant participant in the development of new medicines for most of the world's top pharmaceutical and biotechnology companies and has an extensive healthcare database offering insights to improve patient care and enhance drug development.
With a market capitalization of $318.78 billion, Labcorp ranks as one of the largest life science companies in the world. The company consistently ranks on the fortune 500 list, with Labcorp placed 241 on 2023's listup 15 positions from number 256 in 2022.
The medical laboratory company with headquarters in North Carolina has returned 41.3% to investors in the trailing year and 69.5% in the last five years. Wall Street clearly likes the company's prospects, with 95% of the analysts covering the stock rating it a buy. The company is also a top holding of several exchange-traded funds and mutual funds. Labcorp is listed on the New York Stock Exchange (NYSE) under the LH (common stock) and LH.A ( Series A cumulative convertible preferred stock) tickers. To help clients make informed investment decisions, Labcorp publishes numerous reports on its website, including 10Q filings, and annual and sustainability reports.