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If you are a frequent customer of commercial laboratory testing services in North America, you probably have been offered one or more diagnostic products of one of its leading providers– Quest Diagnostics Inc. (DGX - Free Report) . Apart from the U.S., this company provides its laboratory services in several international markets including parts of India, England, Mexico and Puerto Rico.
Currently, Quest Diagnostics has a Zacks Rank #3 (Hold) but that could change following its strong third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate for the current quarter dropped by a penny to $1.35 per share, over the last 30 days. Quest Diagnostics’ adjusted earnings of $1.37 per share beat this estimate by 1.4%.
Revenues: Quest Diagnostics posted revenues of $1.89 billion, beating the Zacks Consensus Estimate for revenues of $1.88 billion.
Key Stats: Quest Diagnostics’ volume, measured by the number of requisitions, increased 2% versus the prior year’s volume. Notably, revenue per requisition was flat on a year-over-year basis. Diagnostic Information Services revenues grew 2.1% year over year.
Major Factors: Quest Diagnostics delivered impressive results in the third quarter. According to management, the company’s expanding relationships Optum, HCA, Safeway, Ancestry, IBM, and others, have been key contributors to this growth and are likely to enhance the operational excellence of the company.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
Check back later for our full write up on this Quest Diagnostics earnings report later!
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Quest Diagnostics (DGX) Tops Q3 Earnings & Revenue Estimates
If you are a frequent customer of commercial laboratory testing services in North America, you probably have been offered one or more diagnostic products of one of its leading providers– Quest Diagnostics Inc. (DGX - Free Report) . Apart from the U.S., this company provides its laboratory services in several international markets including parts of India, England, Mexico and Puerto Rico.
Currently, Quest Diagnostics has a Zacks Rank #3 (Hold) but that could change following its strong third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key details from the just-released announcement below:
Earnings: The Zacks Consensus Estimate for the current quarter dropped by a penny to $1.35 per share, over the last 30 days. Quest Diagnostics’ adjusted earnings of $1.37 per share beat this estimate by 1.4%.
Revenues: Quest Diagnostics posted revenues of $1.89 billion, beating the Zacks Consensus Estimate for revenues of $1.88 billion.
Key Stats: Quest Diagnostics’ volume, measured by the number of requisitions, increased 2% versus the prior year’s volume. Notably, revenue per requisition was flat on a year-over-year basis. Diagnostic Information Services revenues grew 2.1% year over year.
Major Factors: Quest Diagnostics delivered impressive results in the third quarter. According to management, the company’s expanding relationships Optum, HCA, Safeway, Ancestry, IBM, and others, have been key contributors to this growth and are likely to enhance the operational excellence of the company.
Stock Price: Following the earnings release, share prices did not show any movement in the pre-market trading session.
QUEST DIAGNOSTC Price and EPS Surprise
QUEST DIAGNOSTC Price and EPS Surprise | QUEST DIAGNOSTC Quote
Check back later for our full write up on this Quest Diagnostics earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>