The company saw double-digit volume growth in its clinical services division in the quarter, coupled with increased revenue per test.
The investment bank downgraded LabCorp's shares to a Hold rating from Buy and lowered the target price on the stock to $162 from $195.
The device is designed to be used with the Inova Diagnostics' Quanta Flash assay for the detection of fecal calprotectin in human stool samples.
Diagnostics revenues were negatively affected by a ransomware attack and Hurricane Florence. The company narrowed its revenue and EPS guidance for full-year 2018.
The company lowered its revenue guidance and narrowed the anticipated range for EPS and adjusted EPS for full-year 2018.
Some see challenges ahead for Quest in scaling Oxford Immunotec's T-Spot.TB to compete against Qiagen's market-leading QuantiFERON-TB.
NeoGenomics will pay $125 million in cash and distribute 1 million shares of its stock to Genoptix, a clinical oncology lab, as part of the deal.
The deal will give the central Michigan hospital's patients and providers access to a broader range of testing as well as healthcare data analytics.
The Tulsa, Oklahoma-based lab, which received its CLIA license in August, will run samples reimbursed by Medicare and state Medicaid agencies only.
Under one agreement, LabCorp will help Baptist Health establish a core lab. Its deal with Definiens is aimed at companion diagnostics development.
The consulting practice will advise labs on issues such as technology, process improvements, and workforce management. It expects to launch in the US next year.
The new building will serve as a hub for ARUP's lab campus, handling processing of new specimen as well as high-volume testing.
The companies will also explore expanding the services available at the patient service centers, including exploring novel approaches to clinical research.
Early initiatives of the new network will focus on companion diagnostics and the pathogen preparedness.
The sale of the business, which includes three reference labs across India, is expected to close in the first quarter.
In addition to providing laboratory tests, ARUP will work with Premier members on outreach growth, cost containment, and revenue enhancement.
LabCorp will provide clinical reference laboratory testing services as part of the contract, whose completion date is expected to be Sept. 30, 2019.
Quest also announced a partnership to provide supply chain expertise and run lab reference testing for Regional Medical Center Health System.
When it comes to interfaces, storage, outcomes reporting, and HIPAA compliance, molecular lab personnel might need to demand more from their LIS vendors, researchers said.
The histopathology workforce shortage could worsen in coming years as cancer screening improvements are expected to lead to an increase in biopsies.