Labcorp rises after lifting annual forecast, beating quarterly estimates

Shares of laboratory operator Labcorp LH.N rise 10% to $275.45

Company raises its annual profit forecast to be between $16.05 and $16.50 per share, compared with its previous forecast range of $15.70 and $16.40 per share

Reports quarterly revenue of $3.53 billion, beating analysts' average estimate of $3.49 billion - data compiled by LSEG

Posts adj. profit of $4.35 per share vs estimate of $4.17 per share

Leerink Partners says "While we were expecting a strong and clean quarter, performance was ahead of our expectations"

Brokerage adds "the increase in guidance – including a nice uptick in free cash flow – is further evidence that the company is seeing enterprise strength across the portfolio, including an impressive reboot in early development"

Including session moves, stock up 14.3% YTD