Media Coverage

Quest Diagnostics Incorporated (NYSE: DGX), the world's leading provider of diagnostic information services, announced today financial results for the first quarter ended March 31, 2019.[CR-LF][CR-LF]"We're off to a good start in 2019, with solid volume growth from our expanded health plan access," said Steve Rusckowski, Chairman, President and CEO. "As we anticipated, volume accelerated through the quarter, and we look forward to continued progress as a member of UnitedHealthcare's Preferred Lab Network beginning July 1. We continue to drive productivity to address ongoing reimbursement pressure, and are well positioned to meet our financial commitments for the remainder of 2019."

Quest Diagnostics today reported revenues for its first quarter were up a fraction of 1 percent year over year.[CR-LF][CR-LF]For the three months ended March 31, total revenues inched up to $1.89 billion from $1.88 billion in Q1 2018, beating analysts' average estimate of $1.87 billion. Revenues from Diagnostic Information Services grew to $1.81 billion from $1.80 billion.[CR-LF][CR-LF]On a conference call following the release of the results, Quest President, CEO, and Chairman Steve Rusckowsi said that test volume grew almost 4 percent year over year. Key test growth drivers in the quarter included tuberculosis, Cardio IQ, drug monitoring, and hemapathology blood cancer testing, "all of which showed revenue growth" in Q1.

Quest Diagnostics, the world's leading provider of diagnostic information services, launched three new sexually transmitted disease (STD) laboratory test packages that individuals can purchase online for some of the most prevalent STDs in the United States. The new STD test packages are the first to be offered directly by Quest Diagnostics or any other major national laboratory to allow individuals to purchase tests at their discretion. These new packages have been designed to meet the needs of individuals who want accurate basic or comprehensive STD testing.[CR-LF][CR-LF]The new services are designed to empower individuals to access STD screening when they are reluctant to engage their healthcare provider directly. Research by Quest Diagnostics shows that patients and healthcare providers often fail to discuss sexual behavior and STD risk. According to a survey commissioned by Quest, 51 percent of females age 18-24 years say they don't want to bring up for discussion the topics of sex or STDs with their clinicians and 49 percent claim their clinician has never asked if they want STD testing.

Shares of Quest Diagnostics (DGX - Get Report) climbed 7.4% to $91.50 Tuesday after the diagnostic testing company reported better-than-expected first-quarter earnings.[CR-LF][CR-LF]The Secaucus, N.J.-based company reported net income of $164 million, or $1.20 a share, down from $177 million, or $1.52 a share, a year ago. Adjusted earnings came to $1.40 a share, surpassing analyst's forecasts of $1.36.[CR-LF][CR-LF]Revenue totaled $1.89 billion, up 0.4% from a year ago, and beat Wall Street's expectation of $1.87 billion. Cash provided by operations was $275 million, up 53.4% from 2018.

Quest Diagnostics (DGX) Q1 results: Revenues: $1,891M (+0.4%).[CR-LF][CR-LF]Net Income: $164M (-7.3%); Non-GAAP Net Income: $190M (-10.0%); EPS: $1.20 (-5.5%); Non-GAAP EPS: $1.40 (-7.9%); CF Ops: $275M (+52.8%).[CR-LF][CR-LF]2019 Guidance: Revenues: $7.6B - $7.75B (unch); EPS: >$5.16 (unch); Non-GAAP EPS: >$6.40 (unch); CF Ops: ~$1.3B (unch).[CR-LF][CR-LF]The consensus Revenue and GAAP EPS estimate was $1.87B and $1.38, respectively.

Quest Diagnostics (NYSE:DGX): Q1 Non-GAAP EPS of $1.40 beats by $0.02; GAAP EPS of $1.20. Revenue of $1.89B (+0.5% Y/Y) beats by $20M.

Tuesday morning's results are the first Quest has shared since getting back into the UnitedHealth network at the start of the year. The agreement with UnitedHealth has given Quest access to more patient lives than at any time in the past decade. Accordingly, organic requisition volume growth was up 2.4%, compared to 1.1% in the fourth quarter of 2018, and would have been around 3% if headwinds including a slightly shorter quarter were excluded.

Accurate estimates of non-alcoholic steatohepatitis (NASH) prevalence are lacking, particularly the subset of patients with advanced fibrosis. We aim to evaluate prevalence and predictors of advanced fibrosis among patients with probable NASH using national clinical laboratory data. Clinical laboratory data from October 1, 2017-September 30, 2018 were collected using Quest Diagnostics database, which tests ∼30% of U.S. adults annually. Adults with negative hepatitis B surface antigen, negative hepatitis C antibody, and elevated alanine aminotransferase (ALT) (>25 U/L women, >35 U/L men) were evaluated for prevalence of ≥F 3 fibrosis using fibrosis-4 score (FIB-4)>2.67.

Women's healthcare is historically no fun. I mean, the process of a pap smear speaks for itself. Thankfully, it seems many women feel this way, and some particularly driven women decided to do something about it.[CR-LF][CR-LF]A handful of companies took the most inconvenient and awkward aspects of women's health — like a trip to the gynecologist just for a prescription refill, or checking out at CVS with condoms — and made them much easier.[CR-LF][CR-LF]Modern Fertility emphasizes the convenience and price tag of its products -- no commute or clinic visit, and no sticker shock. You can take your test at home, or opt to take it at a Quest Diagnostics lab if there's one near you.

In the United States, more than 178 million Americans receive insurance coverage through an employer; of these, approximately 60% have insurance from a self-insured employer. Healthcare costs, both medical and pharmacy, for employers and employees continue to increase at a 6% predicted rate in 2019, on top of the 5 to 6 percent annual increases observed since 2014. The increase in healthcare spending has been directly attributed to increased prices for healthcare services, while utilization has remained somewhat consistent. Today we’re speaking with Dr Steven Goldberg, the vice president of medical affairs, population health, and chief health officer at Quest Diagnostics. He is also a co-author of a recent peer-reviewed case study that analyzed a benefits and wellness program designed by a self-insured employer.