Quest Diagnostics Inc Stock Price, News & Analysis

Quest Diagnostics (NYSE: DGX) announced the acquisition of Labtech Diagnostics, enhancing its diagnostic services in the Southeast. This acquisition is significant as it introduces Quest's first full-service laboratory in South Carolina. The move aims to improve healthcare access, particularly for physicians and patients in regions including North Carolina, Georgia, and Florida. Quest's CEO, Steve Rusckowski, emphasizes that this acquisition aligns with their growth strategy and vision for a healthier world, enhancing affordable care and expanding their diagnostic capabilities.

Quest Diagnostics (DGX) announced the availability of the Target Selector™ NGS Lung Panel, a liquid biopsy test developed by Biocept, Inc. This test allows physicians to perform genomic profiling in patients with advanced non-small cell lung cancer (NSCLC) using a blood sample. By streamlining the diagnostic process, this development aims to enhance treatment options and patient outcomes. The test can be ordered through Quest's nationwide service centers, emphasizing a less invasive method compared to traditional tissue biopsies.

On November 17, 2021, Quest Diagnostics (DGX) declared a quarterly cash dividend of $0.62 per share. The dividend will be payable on February 2, 2022, to shareholders on record as of January 19, 2022. This announcement reflects Quest's commitment to providing returns to its shareholders and showcases its financial stability in the diagnostic services market, where it serves a large portion of the American population.

A Quest Diagnostics Health Trends report reveals that 67% of physicians fear they overlooked drug misuse signs during the pandemic, with expectations of increased overdose deaths, particularly involving fentanyl. The report analyzed 5 million test results and surveyed 500 primary care physicians, highlighting a critical concern about rising addiction risks linked to mental health issues exacerbated by COVID-19. 78% of physicians anticipate patients may turn to illicit fentanyl due to limited options for chronic pain management. Access the full report for in-depth insights.

Quest Diagnostics (NYSE: DGX) announced its participation in the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, at 9:40 a.m. ET. Mark Guinan, Executive Vice President and CFO, will discuss the company's vision and capital deployment strategies. The presentation will be available via a live webcast on the company's investor relations page, with an archived version accessible for 30 days post-event.

Quest Diagnostics is a leading provider of diagnostic services, serving one in three adult Americans and emphasizing their commitment to improving health outcomes through insights from clinical lab results.

Quest Diagnostics (NYSE: DGX) reported third-quarter financial results for 2021, revealing a modest net revenue of $2.774 billion, down 0.4% from the previous year. Despite a strong performance in COVID-19 molecular testing, operating income decreased by 9.3% to $652 million, with diluted EPS at $4.02, a 2.8% drop. However, year-to-date revenue increased 25% to $8.044 billion, driven by a significant 25.8% growth in diagnostic services. The company has raised its 2021 outlook, anticipating 10.7% to 12.3% revenue growth and adjusted EPS between $13.50 and $13.90.

Quest Diagnostics has entered an agreement with the Texas Department of State Health Services to provide COVID-19 testing services for K-12 schools, benefiting over 1,150 districts in Texas for the 2021-2022 school year. The program utilizes PCR and other nucleic acid amplification tests at Quest's clinical labs. Funding is provided through a CDC grant, ensuring no costs for schools or families. This initiative aims to promote safer in-person learning by enabling pooled testing.

On October 18, 2021, Quest Diagnostics announced it will provide clinical laboratory testing using the Ki-67 IHC MIB-1 pharmDx, a companion diagnostic for Verzenio (abemaciclib), following its FDA approval on October 13. Verzenio is the first CDK4/6 inhibitor approved for treating high-risk, HR+ HER2- early breast cancer patients. Quest, in partnership with Agilent Technologies, is the first lab to validate this test, aiming for national availability by month's end. This initiative underscores Quest's commitment to precision medicine in oncology.

Quest Diagnostics (DGX) has successfully integrated its Northeast operations at a new 250,000 sq. ft. lab in Clifton, NJ, serving over 40 million people annually. This facility is among the largest medical labs globally, capable of performing 300,000 tests per day with enhanced accuracy and efficiency. The lab represents a commitment of over $250 million, creating more than 1,000 jobs and showcasing advanced automation to improve diagnostic services. The facility can expand for increased testing demands, underscoring Quest's dedication to health innovations.