Quest Diagnostics Inc. - DGX STOCK NEWS

On November 4, 2022, Quest Diagnostics (NYSE: DGX) launched three innovative fitness panels on questhealth.com. These panels are tailored for athletes at all levels and assess overall fitness by analyzing endurance, nutrition, hydration, energy, and hormone levels. The panels include the Essentials, Nutrition, and Elite Profiles, priced between $269 and $559. Results are available electronically within 7-14 days and may be covered by HSA/FSA. The initiative aims to empower athletes with actionable insights for enhanced performance and injury prevention.

Quest Diagnostics (NYSE: DGX) has been recognized in Fast Company's annual Brands That Matter list for its impactful Quest for Health Equity initiative. The initiative represents over $100 million allocated to reduce health disparities in underserved communities, addressing critical issues like heart disease and diabetes. The Fast Company list honors brands that create cultural impact and engagement, with Quest being acknowledged for its relevancy and emotional connection with the public. This highlights Quest's commitment to promoting health equity and community well-being.

Quest Diagnostics (NYSE: DGX) has announced the appointment of Jim Davis as CEO and President, succeeding Steve Rusckowski, who remains as Chairman until March 2023. This transition, initiated on February 3, 2022, aims to strengthen leadership following Rusckowski's decade-long service. Davis, who joined Quest in 2013, has led the company’s response to the COVID-19 pandemic. He emphasized a focus on growth, operational excellence, and advancing diagnostics to improve health outcomes.

Quest Diagnostics partners with Saint Louis University to launch an accelerated bachelor's degree program in medical laboratory science. This 16-month program aims to address the critical shortage of medical laboratory scientists, essential for performing diagnostic tests that inform patient diagnoses and treatments. Currently, the U.S. lacks enough graduates to meet the projected demand of 12,600 new jobs in this field by 2030. The collaboration ensures hands-on training and a potential 100% job placement rate for graduates, highlighting the urgent need for skilled professionals.

Bread of Life, Inc. has launched the Healthy Houston Collective program with the Quest Diagnostics Foundation, targeting healthcare disparities in Houston. The initiative aims to support over 9,000 individuals in underserved communities, backed by a $3.8 million grant. Key program areas include the Community Care Program, health careers training, and collaborations with Federally Qualified Health Centers. The goal is to provide accessible healthcare services, education, and job opportunities while battling health inequities in the region.

Quest Diagnostics (NYSE: DGX) has partnered with Sesame Workshop to launch a nationwide initiative aimed at reducing health inequities among young children, particularly in low-income and marginalized communities. This program seeks to address the impact of the pandemic on children's healthcare by providing English and Spanish resources to support parents and healthcare providers. Notably, research indicates that children from lower-income households are more likely to miss routine health check-ups. The initiative promotes a 'healthy team' approach, fostering partnerships that empower families and enhance children's overall well-being.

Quest Diagnostics (DGX) reported third quarter revenues of $2.49 billion, down 10.4% from 2021. Reported diluted earnings per share (EPS) were $2.17, a decline of 46.0%, while adjusted diluted EPS was $2.36, down 40.4%. Base business revenues increased by 5.1% to $2.17 billion. The company raised full-year 2022 EPS guidance to a range of $8.52 to $8.72 and adjusted EPS to $9.75 to $9.95. CEO-elect Jim Davis emphasized growth in the base business despite challenges, including Hurricane Ian.

Decode Health announced a new collaboration phase with Quest Diagnostics (NYSE: DGX) to advance drug and diagnostics research in metabolic disease and autoimmune neurology. This phase will focus on RNA sequencing and specimen collection through Quest's extensive network, including 2,100 patient service centers. The partnership aims to enhance biomarker discovery, crucial for developing novel diagnostic tests and drug therapies. The initial targets include multiple sclerosis and non-alcoholic fatty liver disease, with plans for future expansion into other clinical areas.

Quest Diagnostics (NYSE: DGX) launched a new campaign, "Put Your ___ To The Test," encouraging consumers to take charge of their health with over 50 lab tests available online without requiring a doctor's visit. This campaign, developed by R/GA, highlights the ease of accessing high-quality tests. Quest aims to educate consumers on the value of lab testing, offering categories such as general wellness and sexual health. The campaign will utilize digital media and TV advertisements throughout 2023, aiming to transform Quest into an emerging lifestyle brand.