Company Performance - Hims & Hers Health stock has surged 165.9% in the past year, with earnings estimates for 2024 increasing from 18 cents to 19 cents and for 2025 from 33 cents to 35 cents in the past week [1] - HIMS has beaten earnings estimates in three of the last four quarters, with an average surprise of 79.2% and a staggering 150% surprise in the last reported quarter [4] - ResMed's fiscal 2024 earnings per share estimates have remained constant at $7.70, with shares declining 1.6% over the past year compared to the industry's fall of 1.7% [5] - Medpace's 2024 earnings per share estimates have remained constant at $11.29, with shares surging 81.9% in the past year compared to the industry's 5% growth [14] - ResMed has surpassed earnings estimates in three of the last four quarters, with an average surprise of 2.8% [15] Quest Diagnostics Overview - Quest Diagnostics is experiencing robust volume growth driven by increased demand for its services, with base business revenues increasing nearly 6% in the first quarter of 2024 [6] - The company has made significant strides in its Professional Lab Services relationships, contributing to its growth [2] - Quest Diagnostics has a strong customer base, with approximately 90% of health plan members in the U.S. having access to its laboratory services [7] - The company is benefiting from a broad health plan access and strong ties with health plans, resulting in significant revenue increases compared to the previous year [6] Competitive Landscape - Quest Diagnostics faces intense competition from LabCorp, other commercial laboratories, and hospitals, with service quality being a key competitive factor [8] - The company is poised to deliver accessible and affordable laboratory testing, helping health systems improve productivity and patient care [2] - Despite strong growth, Quest Diagnostics is challenged by declining testing revenues, particularly due to a rapid transition away from COVID-19 testing, which saw a nearly 85% revenue drop in 2023 [12][11] M&A and Growth Opportunities - Quest Diagnostics has a promising M&A pipeline, with recent acquisitions contributing to its growth [2] - The company is well-positioned to capitalize on sustained high healthcare utilization rates and continue driving new customer growth [6]

The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, using the passcode: "7895081." The earnings release and live webcast will be posted on www.QuestDiagnostics.com/investor. The company suggests participants dial in approximately 10 minutes before the call. About Quest Diagnostics Anyone listening to the call is encouraged to read the company's periodic reports on file with the Securities and Exchange Commission, including the discussion o ...

Company Overview - Quest Diagnostics has completed the acquisition of PathAI Diagnostics, enhancing its leadership in oncology and subspecialized pathology services [6] - The acquisition aims to accelerate the adoption of AI and digital pathology to improve cancer diagnosis and other diseases [6][20] - The PathAI Diagnostics facility in Memphis has been rebranded as AmeriPath, serving as a national AI and digital R&D center for Quest Diagnostics [13] Industry Insights - The global AI in pathology market was valued at $24 million in 2023 and is projected to grow at a CAGR of 15.6% by 2030 [21] - AI in pathology offers advantages such as improved accuracy, increased efficiency, and enhanced patient care, driven by the demand for better diagnosis and cost control in hospitals [2] - Digital pathology enables the creation of digital images of glass slides, facilitating expert consultations and reducing transportation needs, which addresses workforce shortages in pathology [8] Strategic Collaborations - Quest Diagnostics will license PathAI's AISight digital pathology image management system to enhance its pathology laboratories and customer sites in the U.S. [7] - Both companies may collaborate on developing AI algorithms for research and clinical applications [14] - A research collaboration with Broad Clinical Labs has been announced to demonstrate the clinical value of whole genome sequencing as a first-line genetic test for developmental delay disorders [22] Financial Performance - Quest Diagnostics currently holds a Zacks Rank 3 (Hold) [10] - In the past year, shares of Quest Diagnostics have decreased by 1.2%, while the industry has risen by 15.2% [23]

Core Insights - The study indicates that ctDNA testing for minimal residual disease (MRD) can lead to cost reductions of up to 21% for health plans when half of eligible stage II colorectal cancer patients are tested for treatment decisions [1][7] - ctDNA MRD tests are advanced blood tests that help identify early signs of residual or recurrent cancer after surgery, potentially allowing patients to safely avoid chemotherapy [2][5] Cost Analysis - The analysis showed that implementing ctDNA MRD testing could save $221,684 in total or $0.018 per member per month (PMPM) for commercial health plans, and $116,720 in total or $0.01 PMPM for Medicare Advantage plans [7][9] - The cost savings differ between commercial and Medicare plans due to variations in the average age of plan members and associated clinical practices [8] Clinical Implications - The DYNAMIC trial demonstrated that ctDNA MRD testing reduced the need for adjuvant chemotherapy by nearly half (15% vs. 28%) without compromising recurrence-free survival [5][6] - The study provides evidence that health plans can reimburse for ctDNA MRD testing without negatively impacting their budgets while gaining valuable clinical insights [3][4] Future Outlook - The analysis suggests that if more than 50% of eligible patients are tested, the cost savings could be even greater [9][14] - Quest Diagnostics plans to launch a clinical version of the Haystack MRD™ test broadly in the U.S. later this year, following its acquisition of Haystack Oncology [10][12]

Core Viewpoint - Quest Diagnostics reported a mixed performance in its Q1 2024 earnings, with adjusted earnings per share beating estimates but showing no year-over-year growth, while revenues increased slightly [2][4]. Financial Performance - Adjusted earnings per share for Q1 2024 were $2.04, exceeding the Zacks Consensus Estimate by 9.7%, but matching the previous year's figure [2]. - GAAP earnings were reported at $1.72 per share, reflecting a 3.4% decline from the same period last year [3]. - Revenues for the first quarter rose 1.5% year over year to $2.37 billion, surpassing the Zacks Consensus Estimate by 3.3% [4]. Revenue Breakdown - Diagnostic Information Services revenues increased by 1.7% year over year to $2.30 billion, outperforming the projected $2.21 billion [4]. - The volume of requisitions grew by 1.6% year over year, with revenue per requisition slightly up by 0.1% [4]. Margins and Expenses - The cost of services for the quarter was $1.60 billion, up 2.2% year over year, leading to a gross profit of $771 million, consistent with the previous year [5]. - Gross margin contracted by 49 basis points to 32.6%, while adjusted operating margin decreased by 25 basis points to 14% [5]. Cash and Capital Structure - At the end of Q1 2024, cash and cash equivalents stood at $474 million, down from $686 million at the end of 2023 [6]. - Cumulative net cash from operating activities increased to $154 million compared to $94 million at the end of Q1 2023 [6]. - The company has a five-year annualized dividend growth rate of 7.48% [6]. Guidance - For the full year 2024, Quest Diagnostics expects revenues between $9.40 billion and $9.48 billion, an increase from the previous guidance of $9.35 billion to $9.45 billion [7]. - Adjusted earnings per share guidance has been raised to a range of $8.72 to $8.97, up from $8.60 to $8.90 [7]. Market Sentiment - There has been a downward trend in estimates revisions for the stock over the past month [9]. - Quest Diagnostics currently holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [11].

SECAUCUS, N.J., May 16, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leading provider of diagnostic information services, today announced that its Board of Directors has elected Robert (Rob) B. Carter, a seasoned technology executive, to serve as a director. Including Mr. Carter, the company's Board has 10 members. Rob CarterRob Carter Mr. Carter, 64, is Executive Vice President and Chief Information Officer at FedEx Corporation, where he is responsible for setting the technology direction of the F ...

SECAUCUS, N.J., May 15, 2024 /PRNewswire/ -- Quest Diagnostics (NYSE: DGX), a leader in diagnostic information services, today announced that its Board of Directors declared a quarterly cash dividend of $0.75 per share, payable on July 22, 2024 to shareholders of record of Quest Diagnostics common stock on July 8, 2024. SOURCE Quest Diagnostics About Quest Diagnostics Quest Diagnostics works across the healthcare ecosystem to create a healthier world, one life at a time. We provide diagnostic insights from ...

Overall Drug Positivity Holds Steady at Historically High Rates while Marijuana Positivity Continued Upward Climb in the General U.S. Workforce Marijuana Positivity in the General U.S. Workforce Escalated in States That Have Legalized Recreational Marijuana as well as in Professional Office-Based Industries SECAUCUS, N.J., May 15, 2024 /PRNewswire/ -- The percentage of employees in the general U.S. workforce whose drug test showed signs of tampering increased by more than six-fold in 2023 versus the prior y ...

SECAUCUS, N.J., May 7, 2024 /PRNewswire/ -- Quest Diagnostics Incorporated (NYSE: DGX), a leader in diagnostic information services, announced that Jim Davis, Chairman, CEO and President, will speak on the company's strategy, performance and the latest market developments and trends during a fireside chat at the 2024 Leerink Partners Healthcare Crossroads Conference in Austin, Texas on Wednesday, May 29, 2024, at 10:20 a.m. Eastern Time. The fireside chat and Q&A session will be webcast live during the conf ...

Quest Diagnostics (DGX) recently announced a strategic collaboration with PathAI, a global leader in artificial intelligence-powered pathology technology, aimed at revolutionizing cancer and disease diagnosis. This partnership marks a significant step toward accelerated adoption of AI and digital pathology in Quest Diagnostics’ diagnostic services, promising enhanced quality, speed and efficiency in healthcare.Transformative Acquisition of PathAI Diagnostics AssetsUnder this definitive agreement, Quest Diag ...