Labcorp Launches PD-L1 IHC 22C3 Diagnostic for Ovarian Cancer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2026
0mins
Should l Buy LH?
Source: PRnewswire
- New Diagnostic Tool Launch: Labcorp announces the nationwide availability of Agilent Technologies' PD-L1 IHC 22C3 diagnostic, the only FDA-approved companion diagnostic to identify patients with platinum-resistant ovarian cancer eligible for Merck's KEYTRUDA®, thereby offering new hope for patients.
- Expanded Treatment Options: KEYTRUDA and its combination drug KEYTRUDA QLEX are the first FDA-approved PD-1 inhibitors that significantly reduce the risk of disease progression and improve survival rates, providing critical treatment options for the approximately 80% of ovarian cancer patients who experience recurrence after initial therapy.
- Rapid Testing Support: Labcorp participated in Agilent's Early Validation Program, enabling quick expansion of PD-L1 IHC 22C3 testing availability through standardized training and readiness activities, ensuring timely identification of eligible patients for clinicians following FDA approval.
- Industry Impact: As a global leader in laboratory services, Labcorp employs nearly 71,000 people and serves clients in approximately 100 countries, supporting over 85% of new drugs and therapeutic products approved in 2025, further solidifying its significant role in the healthcare industry.
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Analyst Views on LH
Wall Street analysts forecast LH stock price to rise
12 Analyst Rating
10 Buy
2 Hold
0 Sell
Strong Buy
Current: 254.120
Low
270.00
Averages
304.45
High
325.00
Current: 254.120
Low
270.00
Averages
304.45
High
325.00
About LH
Labcorp Holdings Inc. provides comprehensive laboratory services that help doctors, hospitals, pharmaceutical companies, researchers and patients. The Company operates through two segments: Diagnostics Laboratories (Dx) and Biopharma Laboratory Services (BLS). The Diagnostics Laboratories segment includes routine testing and specialty/esoteric testing. Dx operates through a network of patient service centers, branches, rapid response laboratories, primary laboratories, and specialty laboratories. The BLS segment provides drug development and CDx development solutions from early-stage research to clinical development, along with support for crop protection and chemical testing, through its ED and Central Laboratory Services businesses. Its service also includes ambulatory outpatient laboratory services. The Company is focused on four primary specialty testing areas, such as oncology, women's health, autoimmune disease, and neurology.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Strategic Collaboration Expansion: The company announced a nationwide strategic collaboration with the Children's Hospital of Philadelphia to provide advanced diagnostics for pediatric patients, while completing the acquisition of select assets from Crouse Health's Laboratory Alliance, further solidifying its market position.
- Strong Consumer Health Performance: The Consumer Health segment delivered double-digit growth, with the MyLabcorp mobile app set to launch in May, featuring an AI assistant to simplify appointment scheduling and payments, which is expected to enhance customer experience and market share.
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See More
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- Revenue Growth: The company achieved revenue of $3.54 billion, a 5.7% year-over-year increase, exceeding expectations by $30 million, indicating its sustained competitive strength and business expansion capabilities.
- Guidance Raised: Labcorp raised its full-year enterprise revenue guidance to 5.0% to 6.1%, with the midpoint up 20 basis points, and adjusted EPS guidance of $17.70 to $18.35, surpassing the $17.79 consensus by 13 cents, reflecting confidence in future performance.
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See More
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- Adjusted EPS Guidance Raised: The company raised its 2026 adjusted EPS guidance to $18.03, an increase of $0.13 from previous estimates, reflecting sustained business momentum and effective execution of strategic priorities, thereby enhancing investor confidence.
- Disciplined Capital Allocation: In Q1 2026, Labcorp invested $202.2 million in acquisitions, repurchased $98.0 million in stock, and paid out $61.2 million in dividends, demonstrating the company's disciplined approach to capital allocation and commitment to shareholder returns.
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See More
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- Revenue Expectations: The anticipated revenue for Q1 is $3.51 billion, representing a 4.8% year-over-year growth, indicating the company's stable growth in the market, which may attract more investor interest in its future prospects.
- Historical Performance Review: Over the past two years, Labcorp has beaten EPS estimates 88% of the time and revenue estimates 63% of the time, and this strong performance record may enhance market expectations for its upcoming earnings report.
- Estimate Revision Dynamics: In the last three months, EPS estimates have seen 6 upward revisions and 6 downward revisions, while revenue estimates have experienced 5 upward and 4 downward revisions, indicating a divergence in market sentiment regarding Labcorp's future performance, which could influence investor decisions.
See More
