Boston, MA 11\/05\/2013 (wallstreetpr) –\u00a0<\/b>Quest Diagnostics Incorporated (NYSE:DGX) reported some hits and misses in its quarterly results declared in October, 2013. Revenues of $1.79 billion missed analysts\u2019 expectations of $1.84 billion. Earnings of $1.02 per share on $405 million net income were reported, these were below some analysts\u2019 expectation of $1.20 per share. The company had reported earnings of $1.18 per share for the same period last year. Revenues were also down by 1.9% as compared to the same period last year. Quest also reported a drop in per requisition revenue by 4.3% though it reported growth in requisitions by 2%. The company also slashed its full year revenues by 3.5% lower than last year\u2019s $7.38 billion. The earnings forecast was also slashed from $4.35-$4.50 to $3.85-$3.95 per share.<\/p>\n
Effects of \u2018Obamacare\u2019 on revenues of the company are not yet clear. Many analysts see a drop in per requisition revenues with increase in number of requisitions. Not all tests are covered under \u2018Obamacare\u2019 and patients are also free to choose tests outside the purview of this act. Quest is realigning its assets in the core diagnostics information service business besides restructuring. These are expected to rein in costs and make the company more competitive in the near future.<\/p>\n
Quest is also relying on DTC tests like genetic testing to be the future growth stimulators. In DTC genetic testing, the patient takes a swab of the inner cheek and mails the sample to Quest. The DNA results are than mailed back to the patients. Such tests are expected to benefit the aging population. With link between genes and diseases like cancer and diabetes being established, many consumers are also looking at their genetic profiles to access their chances. Such tests have proved very popular but competition is also very fierce.<\/p>\n
The stock of the company was trading at $62.04, up by 1.82% at the end of closing of trade on November 4, 2013.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 11\/05\/2013 (wallstreetpr) –\u00a0Quest Diagnostics Incorporated (NYSE:DGX) reported some hits and misses in its quarterly results declared in October, 2013. Revenues of $1.79 billion […]<\/p>\n","protected":false},"author":9,"featured_media":12288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[998,989,4059],"stock_ticker":[],"class_list":["post-12287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-dgx","tag-nysedgx","tag-quest-diagnostics-incorporated-nysedgx","entry"],"acf":[],"yoast_head":"\n