As reported previously, Baird analyst Eric Coldwell assumed LabCorp with an Outperform rating, up from the firm's prior Neutral rating. The analyst noted lab growth is not overwhelming, but said with the environment moving more to a value and outcomes-based care and reimbursement model, labs provide more precise, valuable, and actionable data. Coldwell raised his estimates and his price target to $203 from $183 on LabCorp. shares.

Consensus $14.82. The company said, "Labcorp is updating 2024 full year guidance to reflect its first quarter performance and full year outlook. The following guidance assumes foreign exchange rates effective as of March 31, 2024, for the remainder of the year. Enterprise level guidance includes the estimated impact from currently anticipated capital allocation, including acquisitions, share repurchases and dividends."

Invitae (NVTA) announced that Labcorp (LH) has been selected as the winning bidder in the Company's auction in its sale process under Section 363 of the U.S. Bankruptcy Code. Labcorp will acquire substantially all of the Company's assets on a going concern basis for $239 million in cash consideration, plus other non-cash consideration. The hearing to approve the sale is currently scheduled for May 6, 2024. With Court approval, as well as customary regulatory approvals and closing conditions, Labcorp and Invitae anticipate completing the sale process in the third quarter of 2024.

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