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.
Overview of Quest Diagnostics Inc.
Quest Diagnostics Inc. (NYSE: DGX) is a preeminent provider of diagnostic information services, playing a pivotal role in the healthcare ecosystem by delivering actionable insights that empower individuals, physicians, and healthcare organizations to make informed decisions. With a mission to create a healthier world, Quest Diagnostics leverages one of the world's largest databases of de-identified clinical lab results to uncover new pathways for disease identification, treatment optimization, and healthcare management.
Core Business and Operations
Quest Diagnostics operates through two primary business segments: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services segment constitutes the majority of the company's revenue, encompassing routine clinical testing, esoteric testing, anatomic pathology, and substance abuse testing. These services are delivered through a nationwide network of over 2,000 patient service centers, as well as partnerships with hospitals, physicians, and other healthcare providers. The Diagnostic Solutions segment complements these offerings by providing clinical trial testing, risk assessment services, and information technology solutions for healthcare management.
Industry Leadership and Differentiation
Quest Diagnostics stands out in the competitive landscape due to its unmatched scale, innovative test menu, and strategic partnerships. The company offers more than 3,000 diagnostic tests, ranging from routine blood work to advanced genetic and molecular diagnostics. It is a leader in cancer diagnostics, anatomic pathology services, and the development of innovative tests, supported by a team of approximately 900 medical and scientific experts. Quest's extensive network and economies of scale enable it to deliver cost-effective, high-quality diagnostic services, making it a trusted partner for healthcare systems and a convenient choice for patients.
Strategic Growth Through Acquisitions
Quest Diagnostics has pursued a strategic growth strategy through targeted acquisitions, enhancing its geographic reach and service offerings. Recent acquisitions include laboratory assets from healthcare systems like Allina Health, OhioHealth, and University Hospitals, as well as specialized services such as digital pathology through PathAI Diagnostics and renal-specific testing from Spectra Laboratories. These acquisitions align with Quest's objectives to expand its market presence, optimize operational efficiency, and deliver innovative diagnostic solutions.
Innovation and Advanced Diagnostics
Innovation is at the core of Quest Diagnostics' value proposition. The company has pioneered advancements in liquid biopsy technology, minimal residual disease detection, and consumer-initiated testing platforms. Its Haystack MRD™ technology, for instance, represents a cutting-edge approach to detecting circulating tumor DNA for cancer monitoring. Additionally, Quest's consumer-focused offerings, such as micronutrient deficiency panels and self-collection options for genital tract infections, reflect its commitment to empowering patients with accessible and personalized healthcare solutions.
Market Position and Impact
As a key player in the diagnostic services industry, Quest Diagnostics annually serves one in three adult Americans and half of the physicians and hospitals in the United States. Its comprehensive test menu, extensive network, and focus on innovation position it as a critical enabler of healthcare delivery. By providing timely and accurate diagnostic insights, Quest contributes to improved health outcomes, reduced healthcare costs, and enhanced patient experiences.
Commitment to Data Security and Privacy
Quest Diagnostics prioritizes the privacy and security of patient data through robust cybersecurity and data protection programs. The company's adherence to frameworks such as NIST 800 and ISO 15189 ensures the integrity of its operations and builds trust among stakeholders. These measures underscore Quest's commitment to safeguarding sensitive health information in an increasingly digital healthcare environment.
Conclusion
Quest Diagnostics Inc. represents a cornerstone of the healthcare industry, delivering diagnostic insights that drive better health outcomes and support the broader healthcare ecosystem. Through its extensive service offerings, strategic growth initiatives, and unwavering focus on innovation and quality, Quest continues to set the standard for diagnostic excellence.
Fresenius Medical Care (XETRA: FME; NYSE: FMS), a global leader in renal disease care, announced the divestment of select assets of its wholly owned Spectra Laboratories to Quest Diagnostics (NYSE: DGX). Under the agreement, Quest will acquire laboratory assets focused on renal-specific testing in the U.S. Additionally, Quest will provide comprehensive dialysis-related lab and water testing services to Fresenius Medical Care's clinics in the U.S.
This acquisition will allow Quest to enhance its portfolio with dialysis-related water testing capabilities. The deal is expected to bring operational efficiencies to Fresenius Medical Care and leverage Quest's national scale, reducing transportation times and speeding up results reporting. Financial terms were not disclosed, and the acquisition is expected to close in the second half of 2025, with service transitions completing by early 2026.
Fresenius Medical Care is in the second year of a three-year strategic turnaround plan, focusing on optimizing its portfolio by divesting non-core and dilutive assets. Chronic kidney disease affects approximately 35.5 million people in the U.S., with over 800,000 receiving dialysis. This transaction aligns with Fresenius Medical Care's strategy to concentrate on its core business of providing dialysis care.
Quest Diagnostics (NYSE: DGX) has announced plans to host an Investor Day event on March 19, 2025 at the New York Stock Exchange. The event will feature presentations from key executives including Chairman, CEO and President Jim Davis, and Executive Vice President and CFO Sam Samad.
The leadership team will provide institutional investors and financial analysts with insights into several key areas including:
- Updated perspectives on the U.S. laboratory market
- Company's business strategy
- Capital deployment priorities
- Long-term outlook
The event requires advance registration and will be accessible via live webcast on Quest Diagnostics' Investor Relations website. An archived version of the webcast will be made available following the event's conclusion.
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.
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