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 fourth quarter revenues of $2.33 billion, a 15.0% decline from 2021. Reported diluted EPS stood at $0.87, down 72.1%, while adjusted diluted EPS was $1.98, a 40.5% decrease. Base business revenues rose 6.3% to $2.15 billion, contrasting with a 74.6% drop in COVID-19 testing revenues to $184 million. For the full year, total revenues were $9.88 billion, an 8.4% decrease, with an adjusted diluted EPS of $9.95, down 30.1%. Looking ahead, 2023 guidance estimates diluted EPS between $7.61 and $8.21 with a focus on base business growth and productivity.
On February 2, 2023, Quest Diagnostics (NYSE: DGX) announced a 7.6% increase in its quarterly dividend, raising it from
Additionally, Quest's Board of Directors approved a $1 billion increase in its share repurchase authorization, supplementing the
Salud Integral en la Montaña, an FQHC in Puerto Rico, has launched the island's first post-COVID-19 Care Clinic to address the needs of those suffering from long COVID. Supported by Q4HE funding, the clinic offers integrated care from a multidisciplinary team specializing in various medical fields. The initiative aims to serve at least 2,450 patients in its first year, reflecting a commitment to medically underserved communities. This model sets a precedent for similar clinics globally, ensuring comprehensive treatment for ongoing symptoms affecting COVID-19 survivors.
Quest Diagnostics recently supported a community COVID-19 testing event in Newark, NJ, as part of its Quest for Health Equity (Q4HE) initiative. This program, established in 2020, aims to address health disparities exacerbated by the pandemic, particularly among marginalized groups. Q4HE focuses on providing essential resources through education, engagement, empowerment, and access. Key strategies include COVID-19 testing and vaccinations, funding programs to tackle health inequities, and partnering with organizations to drive lasting change. The initiative underscores Quest's commitment to improving health outcomes for underserved communities.
Agilent Technologies (NYSE: A) has entered into a strategic agreement with Quest Diagnostics (NYSE: DGX) to facilitate access to the ctDx FIRST liquid biopsy next-generation sequencing test for advanced non-small cell lung cancer (NSCLC) patients in the U.S. This FDA-approved test will provide healthcare providers with a minimally invasive option to determine if patients could benefit from KRAZATI™ treatment. The collaboration aims to enhance the implementation of precision medicine in oncology, allowing healthcare providers to electronically order the test through Quest’s platform and utilize its extensive patient network.
Quest Diagnostics (NYSE: DGX) will announce its fourth quarter and full year 2022 financial results on February 2, 2023, prior to market opening. A conference call detailing these results will begin at 8:30 a.m. ET on the same day. Participants can dial in at 888-455-0391 (U.S. and Canada) or 773-756-0467 (international) with the passcode '7895081'. The earnings release and a live webcast will be available on www.QuestDiagnostics.com/investor. A replay of the call will be accessible from 10:30 a.m. ET on February 2 until midnight ET on February 16, 2023.
Quest Diagnostics, in a recent statement by Ruth Clements, highlighted the achievements of the Quest for Health Equity (Q4HE) program on its one-year anniversary. The initiative aims to reduce health disparities in underserved communities by enhancing access to diagnostic testing and educational resources. Clements noted the importance of ongoing collaboration with local and national partners to foster long-term health equity. Additionally, she emphasized the critical role Quest has played during the COVID-19 pandemic, particularly in supporting low-income and minority populations with testing and information. The commitment to addressing health inequities continues to be a priority for Quest Diagnostics.
On January 17, 2023, Quest Diagnostics (NYSE: DGX) announced plans for Pack Health to nearly double its headquarters in Birmingham, Alabama, creating at least 200 new full-time jobs. This expansion, supported by state and local economic incentives, is expected to generate an estimated $27 million in economic impact over the next 20 years. The new facility will enhance Pack Health's capabilities in providing digital health coaching and chronic condition management, vital for improving patient outcomes. This marks a year since Quest's acquisition of Pack Health, emphasizing its role in connecting diagnostic insights to actionable health improvements.
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