Quest Diagnostics Inc - DGX STOCK NEWS

GRAIL (NASDAQ: GRAL) and Quest Diagnostics (NYSE: DGX) announced the integration of GRAIL's Galleri® multi-cancer early detection (MCED) test into Quest's test ordering system. This collaboration enables providers to order the Galleri test directly through Quest's Quanum laboratory portal and over 900 electronic health record systems.

The integration makes the test accessible at Quest's 7,400 patient access points nationwide, streamlining the ordering process for over 500,000 healthcare providers. The Galleri test, which detects cancer DNA fragments in blood before symptoms appear, is prescription-only and recommended for adults with elevated cancer risk, particularly those 50 or older.

This development builds upon their existing collaboration since 2021, aiming to improve cancer screening accessibility. The test can detect multiple deadly cancers, including those without current recommended screening tests, which account for nearly 70% of cancer deaths.

Quest Diagnostics (NYSE: DGX) has been named to Fortune magazine's 2025 World's Most Admired Companies™ list for the 11th consecutive year. The company ranked third in the 'Health Care: Pharmacy and Other Services' category, achieving top positions in seven of nine evaluation criteria.

The selection process, conducted in collaboration with Korn Ferry, involved surveying thousands of executives, directors, and analysts who rated companies based on nine key attributes including quality of products and services, innovation, and social responsibility. Quest secured top 1 or 2 positions in areas such as quality of management, long-term investment, product and service quality, social responsibility, and people management.

With over 55,000 employees, Quest Diagnostics continues its mission of creating a healthier world under the leadership of Chairman, CEO and President Jim Davis. Companies must rank in the top half of their industry survey to be included in this prestigious list, which analyzed 650 companies in total.

Quest Diagnostics (DGX) reported strong Q4 2024 financial results with revenues of $2.62 billion, up 14.5% year-over-year, and full-year revenues of $9.87 billion, up 6.7%. Q4 reported diluted EPS reached $1.95, increasing 14.7%, while adjusted diluted EPS was $2.23, up 3.7%.

The company completed eight acquisitions in 2024, including LifeLabs in Canada, expanded its health plan access to over 90% of in-network lives nationwide, and grew its Advanced Diagnostics portfolio. For 2025, Quest expects revenues between $10.70-10.85 billion and adjusted diluted EPS of $9.55-9.80.

The Board authorized a 6.7% increase in quarterly dividend to $0.80 per share, marking continuous dividend growth since 2011.

Quest Diagnostics (NYSE: DGX) has completed its previously announced acquisition of select assets from University Hospitals, a leading nonprofit health system and academic medical center. The acquisition expands Quest's presence in Ohio, providing broader access to its diagnostic testing services, patient access sites, and health plan coverage network.

Testing for University Hospitals' providers and patients using Quest's services will be performed at Quest's laboratories in Twinsburg, Ohio and Pittsburgh, Pennsylvania. University Hospitals will maintain operation of its hospital-based labs for inpatient and select outpatient testing. Financial terms of the acquisition were not disclosed.

Quest Diagnostics (NYSE: DGX) has appointed Adrienne L. Brott as senior vice president and chief quality and regulatory affairs officer, effective December 2024. Reporting to CEO Jim Davis, Brott will lead the company's quality and regulatory strategy, focusing on enhancing quality adherence and compliance with global regulations for laboratory diagnostic services.

Brott joins Quest with extensive experience in healthcare quality and regulatory affairs, previously serving as senior vice president of quality and regulatory at Getinge's acute care therapies division. Her prior roles include leadership positions at Becton Dickinson, where she managed quality across 28 manufacturing sites and led a program to harmonize 120 quality management systems. She also held positions at Johnson & Johnson and Abbott Laboratories.

The new executive is co-chair of the Advancing Quality Excellence Collaborative Community Steering Committee of the Medical Device Innovation Consortium, collaborating with stakeholders including the FDA to improve medical device quality and patient safety.

Quest Diagnostics highlighted the humanitarian efforts of Kris Constantino, Director of Logistics Operations, in response to Hurricane Helene in North Carolina. Constantino aided county leaders with supply logistics, particularly in Pensacola, which was isolated and dependent on National Guard air drops. She coordinated with the Product Remanufacturing Center (PRC), an Amazon partner, to secure warehouse space for consolidating donations from Yancey County. Constantino established a logistics network with three strategic storefronts to distribute essential supplies including generators, fuel, warm weather gear, and medical supplies. This recognition is part of Quest's Everyday Heroes Program, which acknowledges employees promoting inclusion, diversity, justice, and equity.

Quest Diagnostics (NYSE: DGX) has scheduled the release of its fourth quarter and full year 2024 financial results for Thursday, January 30, 2025, before market opening. The company will host a conference call at 8:30 a.m. Eastern Time to discuss the results.

Participants can join the call by dialing 888-455-0391 (U.S. and Canada) or 773-756-0467 (international) using passcode '7895081'. The earnings release and webcast will be available on Quest's investor website. A replay will be accessible until February 13, 2025, via phone or the company's investor website.

Quest Diagnostics has released details about its corporate governance and ethics framework in its 2023 Corporate Responsibility Report. The company, with over 56 years of experience and 70 billion data points, maintains strong oversight through its Board of Directors and Executive Leadership team.

Key highlights include:

• Board composition featuring 50% women and/or diverse race/ethnicity representation, with 9 independent members
• Six specialized board committees overseeing various aspects of operations
• 2023 achievements including $343 million spent with small and diverse US businesses
• Over 95% employee completion rate for compliance training

The company has set ambitious 2025/2026 goals, including expanding ESG risk assessments of key suppliers and growing spend with small and diverse suppliers to $500 million. Quest's ESG Council meets quarterly to drive integration of ESG initiatives, while the Enterprise Risk Management program promotes risk awareness throughout operations.

Quest Diagnostics made significant environmental progress in 2023 through multiple sustainability initiatives. The company purchased over 40 million kilowatt hours of renewable electricity and installed electric vehicle charging stations in Marlborough, Tampa, and Atlanta. Their fleet optimization reduced driving by 2.6 million miles, saving 96,000 gallons of gasoline and 845 metric tons of CO2 emissions.

The company implemented waste reduction programs at major California laboratories, diverting over 3,500 tons of medical and municipal waste from landfills, generating 1 million kilowatt-hours of electricity, and avoiding 6,900 tons of CO2-equivalent emissions. Their box optimization project achieved an 11% reduction in shipping boxes, saving 23 tons of cardboard.

Quest also obtained ISO 14001 certifications for facilities in Cleveland HeartLab and Chantilly, joining their San Juan Capistrano lab. The company established an Environmental Health Impact Committee to address climate change's health impacts and inform related policies.