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Revenues are expected between $9.2 billion to $9.5 billion versus $9.35 billion consensus analyst estimates and prior guidance between $9 billion to $9.5 billion.ĬEO Rusckowski talked up the recovery on the $2.6 billion in total revenues. Quest issued fiscal full-year EPS guidance between $9.00 to $9.50 versus $8.98 consensus analyst estimates and previous guidance range of $8.65 to $9.35.
#Quest diagnostics stock full
Based on our strong performance in the quarter and our expectations for the remainder of 2022 we have raised our full year guidance." We continue to make investments to further accelerate growth in the base business, while our efforts to improve productivity are helping us to offset inflationary pressures. Quest CEO Steve Rusckowski commented, "COVID-19 volumes remained strong early in the quarter and decreased in February and March, in line with the market. Revenues fell (-4%) year-over-year (YOY) to $2.61 billion, missing analyst estimates for $2.64 billion.
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The Company reported an adjusted earnings-per-share (EPS) profit of $3.22 excluding non-recurring items versus consensus analyst estimates for a profit of $3.00, beating estimates by $0.22. On April 21, 2022, Quest released its fiscal first-quarter 2022 results for the quarter ending March 2022. Prudent investors looking for a defensive healthcare play in an established duopoly can look for opportunistic pullbacks in shares of Quest Diagnostic. Despite inflationary pressures and revenue slip, Quest is making a strong recovery and raised it fiscal full-year 2022 top and bottom line guidance. The Company shares a duopoly in the space with rival LabCorp (NYSE: LH). Processing over 1.8 million medical tests daily has enabled the Company to gather massive amounts of robust patient data. The well-known lab serves nearly half of all the hospitals and physicians in the U.S. However, it’s direct-to-consumer (DTC) business doubled in the quarter. That portion of revenues are expected to decline into 2023. PCR testing accounted for nearly $600 million in revenues, down (-28%) with nearly 60% occurring during the Omicron surge. The Company was a benefactor of the pandemic processing COVID test results, but volumes are falling as COVID wanes amidst mass vaccinations and boosters. Drive Operational excellence: The company plans to focus on four strategic requirements - to enhance end-to-end customer value chain, enterprise information technology architecture, business performance tools and cost excellence.Medical diagnostic lab company Quest Diagnostic (NYSE: DGX) stock has been performing relatively stronger than the benchmark indices down only (-20%) on the year. Restore Growth: The company has adopted seven tactical approaches to accelerate growth such as sales and marketing development of esoteric testing through a disease focus partnerships with hospitals and successful testing of international IDNs creation of value from information assets leadership in companion diagnostics extension into adjacent markets. The company's focus is on two elements - to accelerate growth and to drive operational excellence. The company consists of 2 business groups - Diagnostic Information Services and Diagnostic Solutions. Quest provides lab testing services to physicians, hospitals, managed care organizations, employers, government institutions and other clinical laboratories. is the provider of commercial laboratory services. Quest Diagnostics Historical Annual Stock Price Data