Quest Diagnostics Exceeds Expectations with Record-Breaking Revenue and Earnings
April 28, 2023
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Quest Diagnostics ($NYSE:DGX), a major provider of diagnostic information services and insights, recently reported record-breaking financial results that surpassed expectations. Its Non-GAAP earnings per share (EPS) of $2.04 exceeded analyst expectations by $0.07, and its revenue of $2.33 billion exceeded estimates by a whopping $130 million. The company caters to both the clinical and non-clinical markets, providing insights and diagnoses to help inform treatment decisions and improve health outcomes. By leveraging its data and insights, Quest Diagnostics helps clinicians, hospitals, practices, and other healthcare organizations make better decisions with their patients.
Share Price
On Thursday, QUEST DIAGNOSTICS released their latest financial statement that exceeded all expectations. The company achieved record-breaking revenue and earnings, with their stock opening at $146.8 and closing at $141.0. This 4.0% decrease from its prior closing price was a bit unexpected but still exciting news for investors. This strong performance was driven by the company’s efforts to expand their services into new markets, particularly in the area of infectious disease testing. They also experienced increased demand for their services from the health care providers and payers.
Looking ahead, the company remains optimistic about their prospects for continued growth and success. They plan to continue investing in their innovative services and expanding their reach in order to meet the needs of their customers. With such positive results, there’s no denying that QUEST DIAGNOSTICS is on track for a successful future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Quest Diagnostics. More…
| Total Revenues | Net Income | Net Margin |
| 9.88k | 942 | 9.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Quest Diagnostics. More…
| Operations | Investing | Financing |
| 1.72k | -543 | -1.73k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Quest Diagnostics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 12.84k | 6.83k | 54.69 |
Key Ratios Snapshot
Some of the financial key ratios for Quest Diagnostics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.6% | 5.1% | 14.0% |
| FCF Margin | ROE | ROA |
| 13.3% | 14.3% | 6.7% |
Analysis
GoodWhale is the perfect tool for analyzing QUEST DIAGNOSTICS‘s fundamentals. After analyzing their financial and business aspects, we’ve assigned them a medium risk rating, meaning that they’re not considered to be a particularly risky investment. If you’re interested in seeing what risk warnings we’ve identified in their income sheet, balance sheet and non-financials, then become a registered user on GoodWhale and check it out. Our analysis will provide you with all the information you need to make an informed decision. More…
Peers
The competition among Quest Diagnostics Inc, Dr Lalchandani Labs Ltd, NeoGenomics Inc, and Shanghai Labway Clinical Laboratory Co Ltd is fierce. All four companies are vying for a piece of the pie in the diagnostic testing market. While Quest Diagnostics Inc is the largest of the four companies, the other three are not far behind. Each company has its own strengths and weaknesses, and each is trying to capitalize on the other’s weaknesses.
– Dr Lalchandani Labs Ltd ($BSE:541299)
Lalchandani Labs Ltd is a pharmaceutical company that manufactures and markets a range of prescription and over-the-counter drugs. The company has a market cap of 141.91M as of 2022 and a return on equity of 12.87%. The company’s products are sold in over 50 countries and its products are used by millions of people around the world. The company has a strong research and development team that is constantly innovating and developing new products. The company’s products are backed by a strong clinical research and manufacturing infrastructure.
– NeoGenomics Inc ($NASDAQ:NEO)
NeoGenomics Inc is a leading provider of cancer genetic testing and information services. The company has a market cap of 934.66M as of 2022 and a Return on Equity of -3.79%. NeoGenomics provides a full range of services including DNA sequencing, gene expression profiling, FISH testing, and Flow Cytometry. The company also offers a wide array of diagnostic tests including next generation sequencing, immunohistochemistry, and in situ hybridization. NeoGenomics serves a global customer base of oncologists, pathologists, pharmaceutical companies, and academic research centers.
– Shanghai Labway Clinical Laboratory Co Ltd ($SZSE:301060)
Shanghai Labway Clinical Laboratory Co Ltd is a clinical laboratory located in Shanghai, China. The company provides a range of laboratory services, including medical testing, tissue culture, and genetic testing. The company has a market cap of 9.31B as of 2022 and a Return on Equity of 27.69%. The company’s strong market position and financial performance are due to its focus on quality and customer service. The company has a well-established reputation in the industry and is known for its accurate and reliable results.
Summary
Quest Diagnostics recently reported their Non-GAAP EPS of $2.04 which beat analysts’ expectations by $0.07 and revenue of $2.33B which beat by $130M. Despite this impressive performance, the stock price dropped the same day. Investors should look closely at the numbers and underlying trends to determine if Quest Diagnostics is a good investment option. With strong revenue growth, profitability and cash flow, it could be a worthwhile stock.
However, investors should consider the risks associated with investing in this company in order to make an informed decision.
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