Welcome to our dedicated page for Quest Diagnostics news (Ticker: DGX), a resource for investors and traders seeking the latest updates and insights on Quest Diagnostics stock.
Quest Diagnostics Incorporated reports developments in diagnostic information services, laboratory testing and related healthcare data offerings. Company news commonly covers financial results, guidance, clinical testing activity, consumer access through questhealth.com and MyQuest, and advanced diagnostics such as Quest AD-Detect blood tests for Alzheimer’s disease and Haystack MRD ctDNA testing for oncology research.
Updates also include health system collaborations, Co-Lab Solutions activity, clinical trial and research partnerships, AI-enabled patient tools, board and executive appointments, dividends, share repurchases, debt financing and shareholder voting matters.
Quest Diagnostics has announced a collaboration with IRIS to offer diabetic retinal imaging services at its patient service centers across the United States. This initiative aims to enhance access to screenings for diabetic retinopathy, a leading cause of blindness, particularly for patients identified as high-risk by participating health plans. The collaboration is designed to improve screening rates and health outcomes by enabling early detection and treatment. Training for Quest personnel will ensure images are sent to licensed ophthalmologists for evaluation.
Quest Diagnostics (NYSE: DGX) will announce its first quarter 2022 financial results on April 21, 2022, before market opening. A conference call to discuss the results is scheduled at 8:30 a.m. ET. Interested parties can access the call by dialing 888-455-0391 (U.S. and Canada) or 773-756-0467 (international), using the passcode '7895081'. A replay will be available until May 5, 2022. For further information, visit QuestDiagnostics.com/investor.
Quest Diagnostics reported a significant rise in drug test positivity rates in the U.S. workforce, reaching the highest levels since 2001. The overall positivity rate for urine tests increased to 4.6% in 2021, up 31.4% from an all-time low in 2010-2012. Notably, federally mandated safety-sensitive workers' positivity remained steady at 2.2%. Marijuana positivity in the general workforce rose to 3.9%, marking a 50% increase over five years. Employers face challenges in recruitment while ensuring workplace safety amidst these trends.
Quest Diagnostics (NYSE: DGX) has secured a $19.5 million contract from the Centers for Disease Control and Prevention (CDC) to provide COVID-19 antibody testing and data analytics services across 45 states and Puerto Rico. The contract aims to assist the CDC in understanding SARS-CoV-2 seroprevalence, evaluating the population proportion infected or vaccinated. Quest will utilize clinical testing serum remnants to enhance public health analysis and reporting, demonstrating its ongoing commitment to effective pandemic response.
Quest Diagnostics Foundation announced a $500,000 donation to Project HOPE to aid humanitarian efforts in Ukraine and support Ukrainian refugees in Eastern Europe. The donation aims to deliver medical supplies and urgent assistance amidst the ongoing crisis, with more than two million refugees displaced. Quest Diagnostics' employees are also contributing, and the Foundation will match these donations. Project HOPE expressed gratitude, emphasizing the urgent need for medical supplies in affected regions including Poland, Moldova, and Romania.
Quest Diagnostics (NYSE: DGX) announced the appointment of James E. Davis as its new CEO, effective November 1, 2022, succeeding Steve Rusckowski, who served over a decade. Davis, currently Executive Vice President of General Diagnostics, has been with the company since 2013 and has played a key role in the company’s growth, overseeing significant revenue and earnings increases during his tenure. Additionally, Mark Guinan, CFO, plans to retire in 2022, initiating a search for his successor.
Quest Diagnostics reported its financial results for Q4 and FY 2021, showing record revenues and earnings due to increased demand for COVID-19 testing services. For the full year, net revenues rose by 14.3% to $10.79 billion, while base business revenues grew 19.4%. However, Q4 revenues dropped 8.6% compared to 2020. The company provided guidance for 2022, anticipating a significant decrease in COVID-19 testing revenue and a modest increase in base business revenues. Additionally, a 6.5% dividend increase was announced, marking the company’s eleventh increase since 2011.
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Quest Diagnostics (NYSE: DGX) has teamed up with Walmart to launch a new consumer-initiated laboratory testing service powered by QuestDirect™. This initiative enables individuals to purchase over 50 types of laboratory tests online, including those for general health, digestive health, and infectious diseases. Customers can access testing through a user-friendly website and arrange appointments at one of Quest's 2,220 Patient Service Centers. This development aims to enhance healthcare accessibility, particularly for those who may have delayed in-person medical services during the COVID-19 pandemic.
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