Quest Diagnostics Stock Is Dipping: Q3 Results

Since the beginning of the week, the DGX price has gained 4% within three days, peaking at $ 147.54. However, after the opening of trading today, it immediately fell by 3.8% to $141.7. Quest Diagnostics Incorporated is a 54-year-old healthcare company that provides diagnostic information services to those in need through its network of laboratories.

The results for the third quarter were announced, which exceeded expectations. During this period, earnings per share were $ 3.96, which is $ 1 more than the Zacks Consensus forecast and $ 0.35 less than a year ago. As for the company’s revenue, it amounted to $ 2.77 billion, up to $ 20 million from a year earlier. However, Zacks Consensus Estimate predicted the number, which is 12.5% less than the achieved amount. What’s more, the company has raised its annual revenue and profit forecasts as demand for testing COVID-19 are increasing due to the Delta variant. According to the company, the demand for tests has recovered after the growing number of infected.