Core Viewpoint - Quest Diagnostics (DGX) is experiencing growth driven by strong customer relationships, new client acquisitions, broad health plan access, and advanced diagnostics offerings, currently holding a Zacks Rank 2 (Buy) [1] Factors Driving DGX Stock - The company has seen robust volume growth in its core business, with base clinical volumes increasing by 3.2% in Q2 2024, attributed to new physician and hospital customers and a favorable test mix [2] - Physician Lab Services reported strong growth due to market expansion and new customer acquisitions, alongside significant volume and revenue growth from Medicare Advantage plans [3] Advanced Diagnostics Services - Quest Diagnostics' Advanced Diagnostics services, including molecular genomics and oncology tests, have shown strong growth, particularly in brain health, women's health, and advanced cardiometabolic health in Q2 2024 [4] - The Alzheimer's disease portfolio, including AD-Detect blood testing and cerebrospinal fluid tests, is a key growth driver, with plans to expand the biomarker offerings [5] Financial Performance - The stock has appreciated by 18.8% over the past six months, outperforming the industry average of 11.9%, with expectations for continued upward movement due to core business expansion strategies [7] Challenges Faced - The transition away from COVID-19 testing has led to a significant revenue decline of nearly 85% in 2023, with a projected $175 million decrease in COVID-19 revenues for 2024 [8] - Concerns regarding solvency are present, with long-term debt at $3.82 billion and cash reserves of only $271 million, leading to a declining times interest ratio of 7.7% [9]

Quest Diagnostics (DGX) and Sentara Health Plans announced a multi-year strategic collaboration to expand access to high-quality, affordable and comprehensive laboratory testing for the members of Sentara Health Plans. Per the deal, starting Jan. 1, 2025, DGX will be the exclusive independent national laboratory provider of clinical laboratory and anatomic pathology services for Sentara Health Plans' members, including commercial and government programs. The agreement applies to Sentara Health Plans' member ...

Quest named exclusive independent lab provider for all Sentara Health Plans in Virginia and Florida SECAUCUS, N.J and HAMPTON ROADS, Va., Sept. 18, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), the world's leading provider of diagnostic information services, and Sentara Health Plans, the health plan division of Sentara Health, an integrated, not-for-profit health care delivery system, today announced a multiyear strategic collaboration designed to expand access to high-quality, affordable and comprehe ...

Company Overview - Quest Diagnostics (DGX) has acquired select laboratory assets from Allina Health, aligning with its strategy for expansion through acquisitions [1][5] - The acquisition is expected to enhance Quest Diagnostics' laboratory services in Minneapolis and throughout Minnesota and western Wisconsin [1] Financial Impact - Following the acquisition announcement, DGX shares increased by approximately 1.3%, closing at $156.36 [2] - DGX currently has a market capitalization of $17.41 billion and an earnings yield of 5.76%, significantly higher than the industry average of 3.39% [3] Strategic Implications - The acquisition is strategically aligned with DGX's goals, focusing on providing quality, innovative, and affordable laboratory services to various communities [5] - This initiative is part of a broader strategy to generate growth through accretive laboratory acquisitions [5][7] Industry Context - The global clinical laboratory services market was valued at $233.2 billion in 2023, with a projected CAGR of 3.5% by 2030, driven by the increasing burden of chronic diseases and demand for early diagnostic tests [6] - The deal is expected to support Quest Diagnostics' continuous growth strategy through gradual laboratory acquisitions [7] Recent Acquisitions - In August, DGX completed the acquisition of LifeLabs for approximately $1 billion, aimed at enhancing access to diagnostic innovation in North America [9] - DGX also signed an agreement to acquire select assets from University Hospitals' outreach laboratory services, broadening its access in Ohio [10]

SECAUCUS, N.J., Sept. 16, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, today announced that it has completed its previously announced acquisition of select laboratory assets from Allina Health. The goal of the transaction is to improve access to high quality and affordable laboratory services for providers and patients in Minnesota and western Wisconsin. Financial details of the transaction were not disclosed. Quest provides a complete portfolio of service ...

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Quest Diagnostics (DGX) recently announced the completion of its acquisition of LifeLabs from OMERS. The transaction was valued at approximately $1 billion, including net debt. The latest acquisition is aimed at enhancing access to diagnostic innovation for patients in North America. Significance of LifeLabs Acquisition for DGX's Business The combination of LifeLabs' strong business and deep community presence with Quest Diagnostics' specialized lab services and expertise creates an opportunity to generate ...

Quest Diagnostics (DGX) recently entered into a definitive agreement to acquire one of the leading nonprofit health systems and academic medical centers in the United States. The company will purchase select assets of University Hospitals' ("UH") outreach laboratory services business, expanding access to innovative, quality diagnostic information services to drive affordable healthcare in Ohio. The latest transaction is expected to be completed in the fourth quarter of 2024, subject to the customary regulat ...

SECAUCUS, N.J. and TORONTO, Aug. 26, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic information services, today announced the completion of its acquisition of LifeLabs from OMERS. The transaction, valued at approximately CAN $1.35 billion (approximately USD $1 billion), including net debt, has received all necessary approvals and is now closed. LifeLabs Logo (PRNewsfoto/Quest Diagnostics)LifeLabs Logo (PRNewsfoto/Quest Diagnostics) "This acquisition brings together two ...

A month has gone by since the last earnings report for Quest Diagnostics (DGX) . Shares have added about 6.3% in that time frame, outperforming the S&P 500. Will the recent positive trend continue leading up to its next earnings release, or is Quest Diagnostics due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Quest Diagnostics Beats Q2 Earnings, Rais ...