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 celebrated Lab Week 2024 from May 21, 2024, recognizing their medical laboratory professionals and pathologists nationwide. The event showcased inspiring professional journeys of Quest colleagues, including Deepika Kumar, who evolved from a Lab Assistant to an Associate Scientist over 11 years in Lewisville, Texas. Deepika highlighted her motivation for financial independence, joy in cytogenetics, and the importance of continuous improvement. She shared her career progression, emphasizing the role of Quest's training programs and a supportive work environment in her professional growth.
Quest Diagnostics (NYSE: DGX) announced the election of Robert B. Carter, CIO of FedEx , to its Board of Directors. With this addition, Quest's Board now comprises 10 members. Carter, 64, boasts over 31 years at FedEx, where he oversaw technology direction and infrastructure. He will retire from his roles in June but will stay on as an advisor until December. This strategic move aims to leverage Carter's expertise in technology, cloud, and cybersecurity to drive Quest's growth and IT initiatives. Quest's leadership highlighted the valuable insights Carter brings, acknowledging his extensive public and private board experience.
Quest Diagnostics (NYSE: DGX) has announced that its Board of Directors has declared a quarterly cash dividend of $0.75 per share.
This dividend will be payable on July 22, 2024, to shareholders who hold Quest Diagnostics common stock as of July 8, 2024.
Quest Diagnostics is recognized as a leader in diagnostic information services.
The Quest Diagnostics Drug Testing Index for 2023 reveals a substantial increase in workforce drug test tampering, with tampered specimens surging over six-fold compared to the previous year. The report, analyzing nearly 9.8 million tests, shows a 633% rise in substituted specimens and a 45.2% increase in invalid specimens. General U.S. workforce drug positivity remained high at 5.7%, while marijuana positivity rose to 4.5%—a 45.2% increase over five years. Post-accident marijuana positivity reached a new peak of 7.5% in 2023. In contrast, federally mandated, safety-sensitive workforce marijuana positivity saw a slight decrease. Other notable trends include increased drug positivity among office-based industries and a rise in cocaine positivity. Meanwhile, opiates and heroin metabolite positivity showed a decline.
Quest Diagnostics celebrated Lab Week 2024 across the nation. The event featured the professional journeys of colleagues, like Javarus Smith, who progressed from Route Service Representative to Logistics Manager. Javarus emphasized the impact of their work on patients' lives and encouraged flexibility for career growth within Quest. The company's commitment to customer service, care, collaboration, continuous improvement, and curiosity was highlighted.
Quest Diagnostics received high praise from a patient at their Voorhees PSC location in New Jersey, highlighting exceptional staff service and professionalism. The team's dedication and consistent excellent service reflect the company's core values. The positive feedback showcases a strong commitment to customer care and satisfaction.
Quest Diagnostics, a leading diagnostic information services company, will have its CEO speak at the 2024 Leerink Partners Healthcare Crossroads Conference. The event will cover the company's strategy, performance, and market trends, with a live webcast available for investors.
Quest Diagnostics and PathAI announced a collaboration to accelerate the adoption of digital and AI pathology innovations to improve cancer diagnosis. Quest will acquire select assets of PathAI Diagnostics to enhance its AI and digital capabilities. The transaction is expected to be completed in the second quarter of 2024. Additionally, Quest will license PathAI's AISight™ digital pathology image management system to support its pathology laboratories and customer sites in the U.S.
Quest Diagnostics has appointed Murali Balakumar as the Senior Vice President and Chief Information and Digital Officer, bringing 25 years of experience in technology strategy across healthcare, financial services, and transportation industries. As a digital transformation leader, Mr. Balakumar will oversee information technology, data informatics, and digital solutions for the company.
Quest Diagnostics collaborated with St. James Health to offer no-cost Blueprint for Wellness screenings during a Choose Healthy Life event at the Metropolitan Baptist Church in Newark. The event celebrated the expansion of the Willing Heart Community Care Center, supported by the Quest Diagnostics Foundation. The initiative aims to address social inequities in healthcare, employment, housing, and poverty. Quest provided 51 attendees with Blueprint for Wellness screenings, showcasing their commitment to health equity in underserved communities.
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