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.
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 The presentation will be available via a live webcast on the company's investor relations page, with an archived version accessible for 30 days post-event.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.
Quest Diagnostics (NYSE: DGX) has become the exclusive provider of onsite COVID-19 testing for the 125th Boston Marathon, scheduled for October 11, 2021. All participants must provide proof of vaccination or a negative test within 72 hours. The collaboration aims to ensure a safe event for runners, staff, and volunteers. Quest will manage testing events leading up to the marathon and offers testing through its QuestDirect service. This initiative highlights Quest Diagnostics' commitment to public health and safety during major events.
Quest Diagnostics (NYSE: DGX) announced it will release its third quarter 2021 financial results on October 21, 2021, before the market opens. A conference call is scheduled to begin at 8:30 a.m. ET on the same day, accessible via phone and webcast. Participants are encouraged to dial in 10 minutes early. A replay will be available until November 4, 2021. The company emphasizes its role in improving health outcomes through diagnostic insights, serving one in three adult Americans and half of U.S. physicians and hospitals.
According to a Quest Diagnostics study published in JAMA Pediatrics, over half (50.5%) of American children under six tested have detectable lead levels in their blood. The study analyzed data from 1,141,441 children and found that children in high-poverty areas and older housing are at greater risk. Although elevated blood lead levels (≥5.0 µg/dL) have declined to 1.9%, the persistent lead exposure remains a significant public health concern. Experts emphasize the need to eliminate all lead sources, given that no safe level of lead exposure in children has been identified.
Quest Diagnostics (DGX) updated its financial outlook for 2021 amid stronger-than-expected COVID-19 molecular testing volumes, driven by the Delta variant's surge. The company now anticipates net revenues between $9.84 billion and $10.09 billion, reflecting a 4.3% increase from prior expectations. Adjusted diluted EPS is projected to range from $11.65 to $12.35. The company also expects to generate at least $2 billion in cash from operations and maintain capital expenditures around $400 million. Factors affecting future results include the pandemic's duration and reimbursement rates.