Quest Diagnostics Inc. - DGX STOCK NEWS

Rite Aid has teamed up with Quest Diagnostics to enhance COVID-19 testing access. Qualified insured individuals can obtain testing at no cost at Rite Aid drive-thru locations. At other Rite Aid stores, customers may pick up at-home specimen collection kits. The collaboration enables PCR testing for adults and children over 2 years old, with results delivered electronically through the MyQuest platform. Quest Diagnostics has conducted over 69 million COVID-19 molecular tests since March 2020, supporting community health during the pandemic.

Quest Diagnostics announced the nationwide launch of a lab-developed molecular diagnostic test for monkeypox, expected to process approximately 30,000 tests weekly by the end of July 2022. This dual-target PCR test differentiates monkeypox virus DNA from other orthopoxviruses and is validated under CLIA regulations. Additionally, the company is set to introduce a CDC orthopoxvirus test by mid-August. The initiative collaborates with the CDC, enhancing public health responses to the monkeypox outbreak in the U.S.

Quest Diagnostics (DGX) released its 2021 Corporate Responsibility Report, detailing its ESG initiatives and COVID-19 response efforts. Key highlights include over $15 million in corporate giving, the launch of its first materiality assessment, and an extensive commitment to health equity. The company also emphasized workforce diversity, with over 56% of employees identifying as people of color and 71% as female. Notably, more than 27,000 volunteer hours were contributed by employees, showcasing commitment to community engagement.

Quest Diagnostics is partnering with the CDC to provide free COVID-19 testing at around 1,200 of its patient service centers for uninsured individuals. This initiative aims to enhance accessibility in communities heavily impacted by the pandemic. Eligible individuals must complete an online screening via QuestDirect and meet specific criteria, including symptoms or exposure. Previous collaborations between Quest and CDC have focused on public health initiatives, including variant sequencing and serology testing.

Quest Diagnostics (NYSE: DGX) will release its second quarter 2022 financial results on July 21, 2022, before market opening. A conference call is scheduled for 8:30 a.m. ET on the same day to discuss these results. Participants can access the call by dialing the appropriate numbers based on their location. The earnings release and live webcast will be available on the company's investor relations website. Additionally, replays of the call will be accessible for a limited time post-event.

A recent Quest Diagnostics study reveals the disparity in hepatitis C (HCV) screening among pregnant individuals in the U.S., particularly between those with Medicaid and commercial insurance. Although a 145% increase in screening was noted from 2011 to 2021, only 40.6% were screened by early 2021. The study highlights that those on Medicaid experienced lower screening rates, with only 18.4% receiving tests compared to 25% of those with commercial insurance. This underscores the urgent need for improved healthcare access and screening adherence for vulnerable populations.

Quest Diagnostics (NYSE: DGX) has appointed Sam Samad as Executive Vice President and Chief Financial Officer, replacing Mark Guinan, who announced his retirement after over eight years. Samad, who will join on July 11, 2022, previously served as CFO at Illumina and held senior roles at Cardinal Health and Eli Lilly. The transition will ensure continuity as Guinan remains until the second-quarter financial report. CEO-elect Jim Davis and Steve Rusckowski, Chairman, highlighted Samad's extensive experience and anticipated contributions to the company's growth.