Quest Diagnostics Inc - DGX STOCK NEWS

Quest Diagnostics (NYSE: DGX) revised its financial outlook for FY 2020, projecting net revenues between $8.4 billion and $8.8 billion, reflecting an increase of 8.7% to 13.9% year-over-year. Reported diluted EPS is now estimated at $7.42 to $8.92, a decrease from the previous outlook. Organic testing volumes continued to recover, although they still declined from the previous year. Cash from operations is expected to exceed $1.45 billion. Management discussed ongoing impacts of the COVID-19 pandemic, which remain uncertain and beyond their control.

Quest Diagnostics' new Health Trends study reveals that between 2010 and 2017, positivity rates for chlamydia and gonorrhea among women aged 18-30 surged significantly. The annual positivity rate for chlamydia rose by 18% (from 4.9% to 5.8%), and for gonorrhea, it increased by 33% (from 0.7% to 0.9%). The study, based on nearly 18 million lab results, indicates a shift in infection rates toward older women, suggesting that current screening guidelines may be outdated. It calls for expanded access to testing for women over 24 years old to address rising infection rates.

Quest Diagnostics (NYSE: DGX) is scheduled to present at the Wells Fargo Virtual Healthcare Conference on September 10, 2020, at 1:20 p.m. ET. Executive VP and CFO Mark Guinan will discuss the company's growth strategy and the impact of COVID-19. The presentation will be available via live webcast on the company's investor relations page and archived for later access until October 10, 2020. Quest Diagnostics aims to improve health outcomes with diagnostic insights and is actively engaged in COVID-19 testing efforts.

Quest Diagnostics reports a significant rise in workforce drug positivity, reaching a 16-year high of 4.5% in 2019. This figure marks a 28% increase compared to the historical low of 3.5% recorded between 2010 and 2012. The Midwest shows notable increases in methamphetamine, cocaine, and marijuana positivity rates. The report indicates rising drug-related fatalities, correlating trends with the impact of COVID-19. The findings precede the SAPAA virtual conference on August 25, 2020, suggesting ongoing challenges in workplace safety due to increasing drug misuse.

Quest Diagnostics (NYSE: DGX) has launched a multi-year initiative to tackle health disparities in underserved communities, especially those affected by COVID-19. This initiative, valued at over $100 million, includes donated testing services, educational programs, and partnerships with Federally Qualified Health Centers. Key goals include improving access to COVID-19 testing and raising awareness about diagnostic insights' importance. The effort primarily targets people of color, the elderly, and the homeless across the U.S.

Quest Diagnostics (NYSE: DGX) has declared a quarterly cash dividend of $0.56 per share, scheduled for payment on October 21, 2020. Shareholders of record as of October 6, 2020 will receive this dividend, reflecting the company's commitment to returning value to its shareholders. Quest Diagnostics is a leading provider of diagnostic information services, serving a significant portion of adult Americans and healthcare providers across the U.S. The company also plays a crucial role in COVID-19 testing, contributing to public health efforts.

Quest Diagnostics (NYSE: DGX) has released its Annual Environmental, Social & Governance Report for 2019, highlighting efforts to enhance patient care and community support. Key achievements include expanded consumer health services, partnerships to improve care access, and COVID-19 testing initiatives. The company also focused on reducing its environmental footprint and investing in employee development. The report underscores Quest's commitment to creating a healthier world through its 47,000 employees.

Quest Diagnostics (NYSE: DGX) has successfully completed its acquisition of Mid America Clinical Laboratories (MACL), previously a joint venture partner. Quest now fully owns MACL's Indianapolis laboratory and around 50 patient service centers in Indiana. Additionally, the company provides lab management services for nearly 30 hospitals linked to Community Health Network and Ascension St. Vincent in Indiana. This acquisition enhances the availability of clinical laboratory and pathology services for local patients and healthcare providers.

Quest Diagnostics has unveiled a new automation in genetic sequencing that enhances the accuracy and speed of genetic testing related to inherited diseases, particularly through AncestryHealth, launched on August 3, 2020. This next-generation sequencing (NGS) technology offers a cost-effective solution, achieving 80-90% detection rates for inherited health risks. It significantly improves risk detection for conditions like breast and ovarian cancer compared to traditional methods. The initiative empowers individuals to better understand their health, potentially leading to proactive healthcare decisions.