Labcorp Makes a Cosmetic Change
The business, shares and stock ticker remain the same.
You've reached your free article limit
You've read 0 of 1 free Pro articles.
* Labcorp implements a new holding company structure today.
* The business remains the same, and the shares will continue to trade under the symbol 'LH'.
We’re getting several questions about Labcorp LH shares being halted, and in some cases not showing up in member brokerage accounts. What’s happening is tied to an announcement the company made when it reported its quarterly results on April 25:
“Labcorp announced that it intends to implement a new holding company structure on May 17, 2024. The name of the new holding company will be Labcorp Holdings Inc. The new parent company will replace Laboratory Corporation of America Holdings as the publicly traded entity and Laboratory Corporation of America Holdings will become a wholly owned subsidiary of Labcorp Holdings Inc.
"The new parent's name is more closely aligned with the brand name, and the company will have a structure that is optimized to reflect the company's operations. Common stock will continue to trade on the NYSE on an uninterrupted basis under the existing symbol "LH" and Laboratory Corporation of America stockholders will automatically become stockholders of Labcorp Holdings Inc. on a one-for-one basis with all of the same rights.”
While there is some disruption as this happens today, the key to remember is this is the same company and business we put into the portfolio, we want to own,, and the shares will continue to trade under the symbol “LH”. It may take a day to sort this out, but then things should be back to normal.
At the time of publication, TheStreet Pro Portfolio was long LH.
