- Quest Diagnostics has increased its full year net revenue forecast to between $9.19 billion and $9.24 billion, up from the previous forecast of between $9.12 billion and $9.22 billion.
- The company’s adjusted earnings per share (EPS) is expected to be between $8.65 and $8.75, slightly lower than the previous estimate of $8.50 to $8.90.
- Revenue is expected to decrease by 6.5% to 7%, which is a slight improvement from the previous forecast of a 6.7% to 7.7% decline.
- The company’s third quarter results beat estimates, with an adjusted EPS of $2.22 compared to the estimated $2.19.
- Net revenue for the third quarter was $2.30 billion, higher than the estimated $2.27 billion.
- Diagnostics revenue for the third quarter was $2.23 billion, surpassing the estimated $2.2 billion.
- Adjusted operating profit for the quarter was $380 million, higher than the estimated $373.8 million.
- The adjusted operating margin was 16.6%, slightly lower than the estimated 16.8%.
- Capital expenditure for the quarter was $105 million, significantly higher than the estimated $87.7 million.
- Quest Diagnostics has received 5 buy ratings, 14 hold ratings, and no sell ratings.
Quest Diagnostics on Smartkarma
Two independent analysts on Smartkarma, Baptista Research, have published research reports on Quest Diagnostics. The first report, titled “Quest Diagnostics: Can The Haystack Acquisition & The Enhancements To The Cancer Diagnostics Portfolio Give Them A Boost? – Key Drivers” is bullish in sentiment and states that Quest Diagnostics delivered a solid result and managed an all-around beat in the quarter. The second report is titled “Quest Diagnostics Incorporated: New Liquid Biopsy Technology & Other Drivers” and is also bullish in sentiment. This report states that Quest managed to surpass the revenue and earnings expectations of Wall Street, with strong growth in their base business and successful wins in reference and professional lab services.
A look at Quest Diagnostics Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 2 | |
| Growth | 3 | |
| Resilience | 2 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Quest Diagnostics Incorporated is a leading provider of diagnostic testing, information, and services. Their extensive network of laboratories, rapid response laboratories, and patient service centers across the nation offer a wide range of services, from routine medical testing to esoteric testing and non-hospital-based anatomic pathology testing. According to Smartkarma Smart Scores, Quest Diagnostics has a strong long-term outlook, with a value score of 3, a growth score of 3, and a momentum score of 3. While their dividend score of 2 and resilience score of 2 may be cause for concern, overall the company is well-positioned for the future.
The company’s strong overall outlook is due in part to their expansive national network of laboratories. Quest Diagnostics’ comprehensive services and reliable testing results have earned them a strong reputation in the industry, which has helped them to maintain a steady growth trajectory. With a current value, growth, and momentum score of 3, the company appears to be well-positioned for the future, and is likely to continue to be a leader in the diagnostic testing industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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