Quest Diagnostics surges after quarterly profit beat

Labcorp Holdings

22/04/2025 17:44

Updates

** Shares of lab operator Quest Diagnostics DGX.N surge 8.7% to $175.84

** Stock set for its best day in nearly five years, if gains hold

** DGX posts Q1 adj. profit of $2.21 per share helped by robust demand for its diagnostic tests, beating analysts' estimates of $2.15 according to data compiled by LSEG

** Company reports Q1 revenue of $2.65 billion vs estimates of $2.63 billion

** Company continues to expect annual adjusted profit per share in the range of $9.55 to $9.80 vs estimates of $9.68

** Shares of peer Labcorp Holdings LH.N up 3.6% at $219.84; co is set to report Q1 results on April 29

** Brokerage Mizuho says DGX's business trends are stable and strong, benefiting from growth in physician and hospital markets, and incremental gains from acquisitions, despite weather impacts

** Mizuho sees 2025 as a pivotal year to determine if there is a positive structural shift in the overall demand environment for clinical lab testing

** As of last close, DGX had risen 7.3% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))