Quest Diagnostics Inc. - DGX STOCK NEWS

Quest Diagnostics (NYSE: DGX) will announce its Q3 2020 financial results on October 22, 2020, before market opening. A conference call to discuss these results will commence at 8:30 a.m. ET. Investors can join via phone at 888-455-0391 domestically or 773-756-0467 internationally, using passcode 7895081. The earnings release and live webcast will be accessible at www.QuestDiagnostics.com/investor. A replay will also be available online and via phone.

Quest Diagnostics has introduced three new tests to enhance COVID-19 diagnosis and differentiate it from seasonal respiratory infections, including influenza. Each test allows for a single specimen to expedite testing and reduce specimen collection device demand. The cobas® SARS-CoV-2 & Influenza A/B test received Emergency Use Authorization from the FDA. In light of potentially severe respiratory virus outbreaks this fall and winter, effective testing is crucial for patient care. Quest aims to provide rapid diagnosis while managing limited specimen collection resources.

Quest Diagnostics has launched the QuestDirect COVID-19 Active Infection test, available for online purchase without a doctor's visit. The test can be collected at home or at over 500 Walmart drive-thru locations nationwide. Utilizing FDA-authorized molecular diagnostic technology, the test caters to individuals with COVID-19 symptoms or exposure. Test results are accessible via the MyQuest patient portal, with a telehealth option for result interpretation. This initiative complements an earlier antibody test and emphasizes accessible, high-quality testing amid the pandemic.

On September 11, 2020, Quest Diagnostics (NYSE: DGX) announced its participation in the Morgan Stanley 18th Annual Global Healthcare Conference. The presentation will feature Steve Rusckowski and Jim Davis, who will outline the company's growth strategies and discuss the impacts of COVID-19. The live webcast is scheduled for September 16, 2020, at 10:15 a.m. ET and will be accessible on their investor relations page. An archived version will be available for viewing until October 10, 2020.

Quest Diagnostics (NYSE: DGX) revised its financial outlook for FY 2020, projecting net revenues between $8.4 billion and $8.8 billion, reflecting an increase of 8.7% to 13.9% year-over-year. Reported diluted EPS is now estimated at $7.42 to $8.92, a decrease from the previous outlook. Organic testing volumes continued to recover, although they still declined from the previous year. Cash from operations is expected to exceed $1.45 billion. Management discussed ongoing impacts of the COVID-19 pandemic, which remain uncertain and beyond their control.

Quest Diagnostics' new Health Trends study reveals that between 2010 and 2017, positivity rates for chlamydia and gonorrhea among women aged 18-30 surged significantly. The annual positivity rate for chlamydia rose by 18% (from 4.9% to 5.8%), and for gonorrhea, it increased by 33% (from 0.7% to 0.9%). The study, based on nearly 18 million lab results, indicates a shift in infection rates toward older women, suggesting that current screening guidelines may be outdated. It calls for expanded access to testing for women over 24 years old to address rising infection rates.

Quest Diagnostics (NYSE: DGX) is scheduled to present at the Wells Fargo Virtual Healthcare Conference on September 10, 2020, at 1:20 p.m. ET. Executive VP and CFO Mark Guinan will discuss the company's growth strategy and the impact of COVID-19. The presentation will be available via live webcast on the company's investor relations page and archived for later access until October 10, 2020. Quest Diagnostics aims to improve health outcomes with diagnostic insights and is actively engaged in COVID-19 testing efforts.

Quest Diagnostics reports a significant rise in workforce drug positivity, reaching a 16-year high of 4.5% in 2019. This figure marks a 28% increase compared to the historical low of 3.5% recorded between 2010 and 2012. The Midwest shows notable increases in methamphetamine, cocaine, and marijuana positivity rates. The report indicates rising drug-related fatalities, correlating trends with the impact of COVID-19. The findings precede the SAPAA virtual conference on August 25, 2020, suggesting ongoing challenges in workplace safety due to increasing drug misuse.

Quest Diagnostics (NYSE: DGX) has launched a multi-year initiative to tackle health disparities in underserved communities, especially those affected by COVID-19. This initiative, valued at over $100 million, includes donated testing services, educational programs, and partnerships with Federally Qualified Health Centers. Key goals include improving access to COVID-19 testing and raising awareness about diagnostic insights' importance. The effort primarily targets people of color, the elderly, and the homeless across the U.S.