Last $114.78 USD
Change Today -1.34 / -1.15%
Volume 1.3M
LH On Other Exchanges
Symbol
Exchange
Berlin
New York
As of 8:04 PM 01/30/15 All times are local (Market data is delayed by at least 15 minutes).

laboratory crp of amer hldgs (LH) Snapshot

Open
$115.39
Previous Close
$116.12
Day High
$115.91
Day Low
$114.65
52 Week High
01/22/15 - $119.21
52 Week Low
02/4/14 - $87.25
Market Cap
9.7B
Average Volume 10 Days
1.2M
EPS TTM
$6.19
Shares Outstanding
84.5M
EX-Date
--
P/E TM
18.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for LABORATORY CRP OF AMER HLDGS (LH)

laboratory crp of amer hldgs (LH) Related Businessweek News

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laboratory crp of amer hldgs (LH) Details

Laboratory Corporation of America Holdings operates as an independent clinical laboratory company worldwide. It offers a range of clinical laboratory tests, such as blood chemistry analyses, urinalyses, blood cell counts, thyroid tests, Pap tests, hemoglobin A1C, PSA, STD tests, HCV tests, microbiology cultures and procedures, and alcohol and other substance-abuse tests. The company provides testing services that are used by the medical profession in core testing, patient diagnosis, and in the monitoring and treatment of diseases. It also offers specialty testing services in the areas of allergy, clinical trials, diagnostic genetics, women's health, cardiovascular disease, identity, forensics, infectious disease, endocrine sciences, oncology, occupational testing, and pain management. The company provides its services through a sales force to the physicians, hospitals, managed care organizations, governmental agencies, employers, pharmaceutical companies, and other independent clinical laboratories. It operates a national network of 44 primary laboratories and approximately 1,700 patient service centers, as well as branches and STAT laboratories. Laboratory Corporation of America Holdings has collaboration with university, hospital and academic institutions, such as Duke University, The Johns Hopkins University, the University of Minnesota, and Yale University to license and commercialize new diagnostic tests. The company was founded in 1971 and is headquartered in Burlington, North Carolina.

34,000 Employees
Last Reported Date: 02/25/14
Founded in 1971

laboratory crp of amer hldgs (LH) Top Compensated Officers

Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $587.2K
Chief Legal Officer, Chief Compliance Officer...
Total Annual Compensation: $371.5K
Chief Medical Officer and Senior Vice Preside...
Total Annual Compensation: $345.3K
Compensation as of Fiscal Year 2013.

laboratory crp of amer hldgs (LH) Key Developments

Laboratory Corp. of America Holdings Announces Plan to Sale of Senior Notes

Laboratory Corp. of America Holdings announced that it plans to offer, subject to market and other conditions, senior notes that are expected to be issued in four tranches with maturities of 5,7,10 and 30 years, respectively. The Notes will be senior unsecured obligations and will rank equally with LabCorp's existing and future senior unsecured debt. LabCorp intends to use the net proceeds of the Notes offering to pay a portion of the cash consideration and the fees and expenses in connection with its pending acquisition of Covance Inc. If the proposed acquisition is terminated or does not close on or prior to June 30, 2015, LabCorp will redeem the Notes at 101% of the principal amount plus accrued and unpaid interest.

Laboratory Corp. of America Holdings Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-13-2015 02:00 PM

Laboratory Corp. of America Holdings Presents at 33rd Annual J.P. Morgan Healthcare Conference, Jan-13-2015 02:00 PM. Venue: Westin St. Francis Hotel, San Francisco, California, United States. Speakers: David P. King, Chairman.

Laboratory Corporation of America Holdings Enters into an Amendment and Restatement of its Existing Senior Revolving Credit Facility

On December 19, 2014, Laboratory Corporation of America Holdings entered into an amendment and restatement of its existing senior revolving credit facility, which was originally entered into on December 21, 2011 and for which Bank of America, N.A. served as swing line lender, letter of credit issuer and administrative agent for a group of financial institutions. The senior revolving credit facility, as amended and restated, is referred to in this report as the new revolving credit facility. The new revolving credit facility consists of a five-year revolving facility in the principal amount of up to $1.0 billion, with the ability to increase the facility by up to an additional $250 million, subject to the agreement of one or more new or existing lenders to provide such additional amounts and certain other customary conditions. The new revolving credit facility also provides for a subfacility of up to $100 million for swing line borrowings and a subfacility of up to $125 million for issuances of letters of credit. Bank of America, N.A., is acting as swing line lender and a letter of credit issuer and as administrative agent for a group of financial institutions providing the revolving credit facility. The new revolving credit facility is permitted to be used for general corporate purposes, including working capital, capital expenditures, funding of share repurchases and certain other payments, and acquisitions and other investments. On December 19, 2014, the company also entered into a five-year term loan credit facility in the principal amount of $1.0 billion. Bank of America, N.A. will act as administrative agent for a group of financial institutions providing the term loan facility. The term loan credit facility is permitted to be used to pay all or a portion of the cash consideration of the Company's proposed acquisition (the Acquisition) of Covance Inc., a Delaware corporation (Covance), and to pay related fees and expenses. The term loan credit facility will be advanced in full on the date of the Company's completion of the Acquisition (the Acquisition Closing Date), with such advances being subject only to certain customary funds provisions. If the Acquisition does not close on or before June 2, 2015, then the commitments under the term loan credit facility will automatically terminate. Under the New Credit Facilities, which have affirmative and negative covenants that are substantially identical to each other, the company is subject to negative covenants limiting subsidiary indebtedness and certain other covenants typical for investment grade-rated borrowers and the company is required to maintain a leverage ratio that varies depending on whether the Acquisition Closing Date has occurred. Prior to the Acquisition Closing Date, the leverage ratio must be no greater than 3.75 to 1.00, which prior to the Acquisition Closing Date is calculated excluding the principal amount of certain senior notes issued for the purpose of funding the Acquisition. From and after the Acquisition Closing Date, the leverage ratio must be no greater than 4.75 to 1.00 with respect to the last day of each of the first four fiscal quarters ending on or after the Acquisition Closing Date, 4.25 to 1.00 with respect to the last day of each of the fifth through eighth fiscal quarters ending after the Acquisition Closing Date, and 3.75 to 1.00 with respect to the last day of each fiscal quarter ending thereafter. When advanced, the term loan credit facility will accrue interest at a per annum rate equal to, at the company's election, either a LIBOR rate plus a margin ranging from 1.125% to 2.00%, or a base rate determined according to a prime rate or federal funds rate plus a margin ranging from 0.125% to 1.00%. Advances under the new revolving credit facility will accrue interest at a per annum rate equal to, at the company's election, either a LIBOR rate plus a margin ranging from 1.00 to 1.60%, or a base rate determined according to a prime rate or federal funds rate plus a margin ranging from 0.00% to 0.60%. Fees are payable on outstanding letters of credit under the new revolving credit facility at a per annum rate equal to the applicable margin for LIBOR loans, and the Company is required to pay a facility fee on the aggregate commitments under the new revolving credit facility, at a per annum rate ranging from 0.125% to 0.40%. In each case, the interest margin applicable to the New Credit Facilities, and the facility fee and letter of credit fees payable under the new revolving credit facility, are based on the Company's senior credit ratings as determined by Standard & Poor's and Moody's, which are currently BBB+ and Baa2, respectively. Until the earlier of the Acquisition Closing Date or the date the term loan credit facility commitments are terminated, a ticking fee shall accrue on the unfunded term loan credit facility commitments in an amount equal to 0.15% per annum of such unfunded commitments. On December 19, 2014, there were no outstanding borrowings under the new revolving credit facility and existing letters of credit totaling approximately $42 million were continued under the facility.

 

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Industry Analysis

LH

Industry Average

Valuation LH Industry Range
Price/Earnings 19.3x
Price/Sales 1.6x
Price/Book 3.5x
Price/Cash Flow 16.1x
TEV/Sales 1.0x
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