Quest Diagnostics Inc. - DGX STOCK NEWS

Quest Diagnostics has entered an agreement with the Texas Department of State Health Services to provide COVID-19 testing services for K-12 schools, benefiting over 1,150 districts in Texas for the 2021-2022 school year. The program utilizes PCR and other nucleic acid amplification tests at Quest's clinical labs. Funding is provided through a CDC grant, ensuring no costs for schools or families. This initiative aims to promote safer in-person learning by enabling pooled testing.

On October 18, 2021, Quest Diagnostics announced it will provide clinical laboratory testing using the Ki-67 IHC MIB-1 pharmDx, a companion diagnostic for Verzenio (abemaciclib), following its FDA approval on October 13. Verzenio is the first CDK4/6 inhibitor approved for treating high-risk, HR+ HER2- early breast cancer patients. Quest, in partnership with Agilent Technologies, is the first lab to validate this test, aiming for national availability by month's end. This initiative underscores Quest's commitment to precision medicine in oncology.

Quest Diagnostics (DGX) has successfully integrated its Northeast operations at a new 250,000 sq. ft. lab in Clifton, NJ, serving over 40 million people annually. This facility is among the largest medical labs globally, capable of performing 300,000 tests per day with enhanced accuracy and efficiency. The lab represents a commitment of over $250 million, creating more than 1,000 jobs and showcasing advanced automation to improve diagnostic services. The facility can expand for increased testing demands, underscoring Quest's dedication to health innovations.

Quest Diagnostics (NYSE: DGX) has become the exclusive provider of onsite COVID-19 testing for the 125th Boston Marathon, scheduled for October 11, 2021. All participants must provide proof of vaccination or a negative test within 72 hours. The collaboration aims to ensure a safe event for runners, staff, and volunteers. Quest will manage testing events leading up to the marathon and offers testing through its QuestDirect service. This initiative highlights Quest Diagnostics' commitment to public health and safety during major events.

Quest Diagnostics (NYSE: DGX) announced it will release its third quarter 2021 financial results on October 21, 2021, before the market opens. A conference call is scheduled to begin at 8:30 a.m. ET on the same day, accessible via phone and webcast. Participants are encouraged to dial in 10 minutes early. A replay will be available until November 4, 2021. The company emphasizes its role in improving health outcomes through diagnostic insights, serving one in three adult Americans and half of U.S. physicians and hospitals.

According to a Quest Diagnostics study published in JAMA Pediatrics, over half (50.5%) of American children under six tested have detectable lead levels in their blood. The study analyzed data from 1,141,441 children and found that children in high-poverty areas and older housing are at greater risk. Although elevated blood lead levels (≥5.0 µg/dL) have declined to 1.9%, the persistent lead exposure remains a significant public health concern. Experts emphasize the need to eliminate all lead sources, given that no safe level of lead exposure in children has been identified.

Quest Diagnostics (DGX) updated its financial outlook for 2021 amid stronger-than-expected COVID-19 molecular testing volumes, driven by the Delta variant's surge. The company now anticipates net revenues between $9.84 billion and $10.09 billion, reflecting a 4.3% increase from prior expectations. Adjusted diluted EPS is projected to range from $11.65 to $12.35. The company also expects to generate at least $2 billion in cash from operations and maintain capital expenditures around $400 million. Factors affecting future results include the pandemic's duration and reimbursement rates.

The Quest Diagnostics Health Trends study reveals a significant decline in new cancer diagnoses during the initial phases of the COVID-19 pandemic. Analyzing data from 799,496 patients, the study indicates that from March 2020 to March 2021, cancer diagnoses fell by 29.8% during early pandemic months and continued to decline by 19.1% by March 2021. This decline raises concerns over undiagnosed cancers and emphasizes the need for regular preventive care. Medical professionals warn that delayed diagnoses could lead to more advanced cancers, necessitating aggressive treatment and resulting in poorer outcomes.

Quest Diagnostics (NYSE: DGX) will present at the Morgan Stanley 19th Annual Global Healthcare Conference on September 9, 2021, at 9:30 a.m. ET. CEO Steve Rusckowski and EVP Jim Davis will discuss the company's growth strategy and the COVID-19 pandemic's impact. The presentation will be available for live streaming on the company's investor relations page and will remain archived for later viewing until October 9, 2021.