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 Inc. (NYSE: DGX) is a leading provider of diagnostic testing, information, and services in the United States, enabling people to make informed health decisions. The company provides diagnostic insights derived from the world’s largest database of clinical lab results, which aids in identifying and treating diseases, promoting healthy behaviors, and improving healthcare management.
Quest Diagnostics serves one in three adult Americans and half of the physicians and hospitals in the United States. Its workforce of nearly 50,000 employees is dedicated to transforming lives by providing actionable diagnostic insights. The company offers the broadest test menu available, with over 3,000 different tests, and has a strong focus on cancer diagnostics, anatomic pathology, and interpretive consultations through its medical and scientific staff of approximately 900 M.D.s and Ph.D.s.
In recent years, Quest Diagnostics has been at the forefront of innovation in diagnostic testing. The company has significantly invested in AI and digital pathology to enhance the accuracy and efficiency of cancer diagnoses. A notable collaboration with PathAI aims to accelerate the adoption of digital and AI pathology technologies, thereby improving the quality, speed, and efficiency of diagnosing cancer and other diseases. This partnership includes the acquisition of PathAI Diagnostics’ state-of-the-art digitized laboratory in Memphis, Tennessee, which will serve as Quest’s AI and digital R&D and solutions center.
Financially, Quest Diagnostics has shown robust performance, with annual revenues reaching $7.4 billion in 2014. The company continues to strengthen its market presence through strategic acquisitions and partnerships, expanding its services and enhancing its capabilities in specialized pathology services. The integration of digital and AI technologies across its operations has improved quality, efficiency, and customer satisfaction, positioning Quest Diagnostics as a leader in the diagnostic services industry.
Quest Diagnostics' extensive clinical testing network includes roughly 2,300 patient service centers, numerous doctors' offices, and hospitals nationwide. The company also provides clinical trials testing, risk assessment services, and information technology solutions through its diagnostic solutions segment.
By leveraging its comprehensive diagnostic insights, Quest Diagnostics aims to empower individuals and healthcare providers to make informed decisions that lead to better health outcomes, ultimately contributing to a healthier world.
Quest Diagnostics reported its financial results for Q4 and FY 2021, showing record revenues and earnings due to increased demand for COVID-19 testing services. For the full year, net revenues rose by 14.3% to $10.79 billion, while base business revenues grew 19.4%. However, Q4 revenues dropped 8.6% compared to 2020. The company provided guidance for 2022, anticipating a significant decrease in COVID-19 testing revenue and a modest increase in base business revenues. Additionally, a 6.5% dividend increase was announced, marking the company’s eleventh increase since 2011.
Quest Diagnostics (NYSE: DGX) has teamed up with Walmart to launch a new consumer-initiated laboratory testing service powered by QuestDirect™. This initiative enables individuals to purchase over 50 types of laboratory tests online, including those for general health, digestive health, and infectious diseases. Customers can access testing through a user-friendly website and arrange appointments at one of Quest's 2,220 Patient Service Centers. This development aims to enhance healthcare accessibility, particularly for those who may have delayed in-person medical services during the COVID-19 pandemic.
Quest Diagnostics (NYSE: DGX) announced an at-home COVID-19 rapid antigen test service via QuestDirect™, in collaboration with eMed™. This service allows users to conduct self-administered tests under the supervision of a telehealth proctor, providing results in 15 minutes. Each test kit, priced at $70, includes two tests and is intended for various uses such as travel and workplace safety. Customers can expect delivery within two to three business days. The offering is also available in bulk for small employers, expanding Quest's COVID-19 testing capabilities.
Quest Diagnostics has introduced the Comprehensive Health Profile, a virtual preventive care service allowing adults nationwide to access over 100 health evaluations without a doctor's visit. Priced at $299 for a Standard Panel and $349 for specialized panels, the service combines laboratory tests, behavioral health assessments, and biometric measurements. Customers receive a personalized Health Quotient Score, offering insights into their health status. This initiative addresses pandemic-related healthcare delays, enabling proactive health management.
Quest Diagnostics (NYSE: DGX) announced its acquisition of Pack Health in an all-cash equity transaction, aiming to enhance its patient engagement capabilities. Pack Health, which focuses on chronic condition management and personalized patient support, will be integrated into Quest's Extended Care services. This move is intended to connect diagnostic insights to actionable healthcare solutions, emphasizing the company's commitment to addressing social determinants of health. Financial terms were undisclosed, with completion expected in Q1 2022.
Quest Diagnostics (DGX) announced preliminary financial results for Q4 and FY 2021, revealing Q4 revenue of approximately $2.74 billion, down 9% from $3.00 billion in 2020. Total base testing volumes rose by 10% compared to Q4 2019. The diluted EPS for Q4 is expected to be $3.12, a decrease from $4.21 in the previous year. However, for FY 2021, reported revenue is projected at $10.79 billion, a 14% increase from $9.44 billion in 2020. The company anticipates exceeding adjusted EPS of $8.00 in 2022.
Quest Diagnostics (NYSE: DGX) announced it will report its fourth quarter and full year 2021 financial results on February 3, 2022, before the market opens. A conference call discussing the results will begin at 8:30 a.m. ET on the same day, accessible via phone or online. A replay of the call will be available from 10:30 a.m. ET on February 3 until midnight ET on February 17, 2022. This event informs stakeholders about the company's financial performance and future outlook.
Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, will present at the 40th Annual J.P. Morgan Healthcare Conference. Steve Rusckowski, Chairman and CEO, is set to discuss the company's vision and capital strategies on January 12, 2022, at 9:00 a.m. ET. The live presentation will be webcast and later archived on the company's investor relations page, accessible until February 11, 2022. Quest Diagnostics serves one in three adults in the U.S. and employs nearly 50,000 staff, focusing on improving health outcomes through diagnostic insights.
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