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Sept. 9, 2021, 7:17 a.m. EDT

Quest Diagnostics hikes financial estimates on Delta variant testing boost

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    Quest Diagnostics Inc. (DGX)

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By Steve Gelsi

DGX

Quest Diagnostics Inc. /zigman2/quotes/201001842/composite DGX -0.94% on Thursday raised its 2021 financial outlook on the heels of increased testing activity for Covid-19. Since the company issued its last projections on July 22, it's seen stronger-than-expected molecular testing volumes through the end of August. The surge of the Delta variant is expected to continue to boost testing volumes. The Secaucus, N.J., company now expects 2021 earnings of $12.54 to $13.24 per share, compared to its previous outlook of $11.48 to $12.18 per share, with adjusted earnings of $11.65 to $12.35 per share, up from its earlier view of $10.65 to $11.35 per share. Revenue for 2021 is expected to top $9.84 billion and total up to $10.09 billion. At last check, analysts surveyed by FactSet expect 2021 earnings of $11.41 a share and revenue of just under $9.8 billion. Quest Diagnostics stock rose 0.8% in pre-market trades.

/zigman2/quotes/201001842/composite
US : U.S.: NYSE
$ 139.20
-1.32 -0.94%
Volume: 1.06M
May 18, 2022 4:03p
P/E Ratio
9.28
Dividend Yield
1.90%
Market Cap
$16.49 billion
Rev. per Employee
$217,939
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