Quest Diagnostics Stock Rises on Strong Q2 Results and Raised Guidance
Shares of Quest Diagnostics (DGX) rose more than 8% last week after reporting strong second-quarter results. The medical testing company reported a revenue increase of 10% year-over-year to $3 billion, driven by partnerships with Corewell Health and Fresenius Medical Care, as well as growth in its direct-to-consumer business. Quest also benefited from automation and AI investments that improved lab efficiency and boosted profit margins. Adjusted earnings per share rose 19% to $3.12. Based on these results, Quest raised its full-year revenue forecast to approximately $12 billion and adjusted EPS guidance between $11.05 and $11.25. The company's extensive lab network serves half of U.S. physicians and hospitals, positioning it well for long-term growth as consumer interest in health monitoring continues to rise.
Tickers: $DGX
Topics: AI automation healthcare medical testing