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 (NYSE: DGX) is a medical laboratories company focused on diagnostic testing and diagnostic information services, and its news flow reflects its role across the healthcare ecosystem. The company regularly issues updates on its financial reporting schedule, including announcements about quarterly and full-year results and related conference calls, which are of interest to investors tracking DGX stock and performance trends.
News about Quest Diagnostics also covers participation in major healthcare and investor conferences. For example, the company has announced presentations at events such as the J.P. Morgan Healthcare Conference and Citi’s Global Healthcare Conference, where its leadership discusses strategy, performance and market developments. These appearances provide insight into how the company views its position in the diagnostic testing and information services market.
Quest Diagnostics’ news includes information on collaborations and joint ventures that expand access to laboratory services. Announcements have highlighted a laboratory services joint venture with Corewell Health in Michigan, as well as the ongoing role of Sonora Quest Laboratories, an Arizona-based joint venture between Banner Health and Quest Diagnostics. Such items help readers understand how Quest Diagnostics partners with health systems to deliver regional laboratory services and hospital lab management solutions.
In addition, Quest Diagnostics reports on developments in specialized diagnostics through subsidiaries and collaborations. News has featured Haystack MRD, a minimal residual disease test developed by Haystack Oncology, a wholly owned subsidiary of Quest Diagnostics, including data presentations at scientific meetings and clinical research collaborations. Other coverage has described a strategic collaboration with Octave Bioscience to expand access to the Octave Multiple Sclerosis Disease Activity Test through Quest’s specimen-collection network.
Visitors to the DGX news page can review these types of updates to follow financial communications, strategic partnerships, scientific data presentations and corporate announcements that shape Quest Diagnostics’ activities in the medical laboratories sector.
Quest Diagnostics (DGX) reported strong Q3 2020 results, with net revenues of $2.786 billion, a 42.5% increase from the previous year. The company attributed growth to heightened demand for COVID-19 testing and a recovery in healthcare utilization. Operating income reached $718 million, up 129.5%. Diluted EPS soared to $4.14, marking a 164.6% increase. Quest raised its full-year revenue outlook to a range of $8.8 to $9.1 billion, reflecting confidence in ongoing demand and operational recovery.
Quest Diagnostics released a Health Trends study revealing a significant rise in misuse of fentanyl, heroin, and nonprescribed opioids, attributed to the COVID-19 pandemic's impact on healthcare access. Analysis of over 872,000 lab results showed a 35% increase in fentanyl positivity and 44% for heroin during the pandemic. Notably, drug mixing incidents surged significantly, presenting greater risks. The study highlights men as the most affected demographic, with a 51% increase in illicit fentanyl use. However, gabapentin misuse saw a 21% decline.
Quest Diagnostics (NYSE: DGX) has been honored with the C. Everett Koop National Health Award for 2020, recognizing its exemplary employee health programs. This prestigious award, given by The Health Project, is awarded to organizations demonstrating significant health improvements and business results. Quest Diagnostics' employee health strategy has saved over $40 million in healthcare costs while also improving health outcomes, such as reducing risks of diabetes and cardiovascular diseases. The award presentation took place virtually during the HERO Forum.
Quest Diagnostics (NYSE: DGX) and CLEAR announced a partnership to integrate COVID-19 testing with CLEAR's Health Pass technology. This collaboration aims to enhance public safety as organizations can access verified health insights. CLEAR's Health Pass will connect users to their COVID-19 test results, which can be accessed through the MyQuest app. Quest Diagnostics has conducted over 16 million COVID-19 tests, leading in the U.S. pandemic response. This initiative is designed to help individuals and organizations make informed decisions regarding health and safety during the ongoing pandemic.
Quest Diagnostics (NYSE: DGX) will announce its Q3 2020 financial results on October 22, 2020, before market opening. A conference call to discuss these results will commence at 8:30 a.m. ET. Investors can join via phone at 888-455-0391 domestically or 773-756-0467 internationally, using passcode 7895081. The earnings release and live webcast will be accessible at www.QuestDiagnostics.com/investor. A replay will also be available online and via phone.
Quest Diagnostics has introduced three new tests to enhance COVID-19 diagnosis and differentiate it from seasonal respiratory infections, including influenza. Each test allows for a single specimen to expedite testing and reduce specimen collection device demand. The cobas® SARS-CoV-2 & Influenza A/B test received Emergency Use Authorization from the FDA. In light of potentially severe respiratory virus outbreaks this fall and winter, effective testing is crucial for patient care. Quest aims to provide rapid diagnosis while managing limited specimen collection resources.
Quest Diagnostics has launched the QuestDirect COVID-19 Active Infection test, available for online purchase without a doctor's visit. The test can be collected at home or at over 500 Walmart drive-thru locations nationwide. Utilizing FDA-authorized molecular diagnostic technology, the test caters to individuals with COVID-19 symptoms or exposure. Test results are accessible via the MyQuest patient portal, with a telehealth option for result interpretation. This initiative complements an earlier antibody test and emphasizes accessible, high-quality testing amid the pandemic.
On September 11, 2020, Quest Diagnostics (NYSE: DGX) announced its participation in the Morgan Stanley 18th Annual Global Healthcare Conference. The presentation will feature Steve Rusckowski and Jim Davis, who will outline the company's growth strategies and discuss the impacts of COVID-19. The live webcast is scheduled for September 16, 2020, at 10:15 a.m. ET and will be accessible on their investor relations page. An archived version will be available for viewing until October 10, 2020.
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.
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