February 20, 2017 2:00 PM ET

Healthcare Providers and Services

Company Overview of Quest Diagnostics Incorporated

Company Overview

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company offers clinical testing services, such as routine testing, gene-based and esoteric testing, and drugs-of-abuse testing, as well as anatomic pathology services, and related services and insights; risk assessment services for life insurers, healthcare providers, and others; and central laboratory testing for clinical trials. It also develops, manufactures, and markets diagnostic products, including Care360 HER, a healthcare information technology product that allows doctors to electronically create, manage, and distribute patient encounter notes, as well as ...

3 Giralda Farms

Madison, NJ 07940

United States

Founded in 1967

43,000 Employees

Phone:

973-520-2700

Key Executives for Quest Diagnostics Incorporated

Chairman, Chief Executive Officer and President
Age: 59
Total Annual Compensation: $1.1M
Chief Financial Officer and Senior Vice President
Age: 54
Total Annual Compensation: $590.4K
Senior Vice President and Group Executive - Diagnostic Solutions Businesses
Age: 61
Total Annual Compensation: $596.8K
Senior Vice President and Group Executive - Regional Businesses
Age: 53
Total Annual Compensation: $590.4K
Senior Vice President and Group Executive of Clinical Franchise Solutions
Age: 53
Total Annual Compensation: $587.7K
Compensation as of Fiscal Year 2015.

Quest Diagnostics Incorporated Key Developments

Quest Diagnostics Incorporated Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the Year 2017

Quest Diagnostics Incorporated reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net revenues of $1,861 million against $1,849 million a year ago. Operating income was $276 million against $239 million a year ago. Net income attributable to company was $155 million against $188 million a year ago. Diluted earnings per share were $1.09 against $1.29 per share a year ago. Cash provided by operations was $304 million against $272 million a year ago. Capital expenditures were $128 million against $94 million a year ago. Adjusted operating income was $305 million against $288 million a year ago. Adjusted net income attributable to company was $173 million or $1.31 per share against $157 million or $1.19 per share a year ago. For the year, the company reported net revenues of $7,515 million against $7,493 million a year ago. Operating income was $1,277 million against $1,399 million a year ago. Net income attributable to company was $645 million against $709 million a year ago. Diluted earnings per share were $4.51 against $4.87 per share a year ago. Cash provided by operations was $1,069 million against $821 million a year ago. Capital expenditures were $293 million against $263 million a year ago. Adjusted operating income was $1,230 million against $1,203 million a year ago. Adjusted net income attributable to company was $682 million or $5.15 per share against $640 million or $4.77 per share a year ago. For the year 2017, the company expects revenues of range between $7.64 billion to $7.72 billion. Reported diluted EPS of range between $4.65 to $4.80 per share. Cash provided by operations of range between $1.1 billion. Capital expenditures of range between $250 million to $300 million.

Quest Diagnostics Partners with Montefiore Health System to Deliver High-Value, Innovative Laboratory Services

Quest Diagnostics is working with  Montefiore Health System (MHS) to provide diagnostic laboratory services. This partnership will enhance the quality and efficiency of laboratory services at Montefiore. Quest will perform a portion of low complexity diagnostic tests at its Teterboro, NJ lab facility. The remainder of the laboratory testing will continue to be done at Montefiore Hospitals under the direction of the Montefiore and Einstein Department of Pathology.

Quest Diagnostics Launches First Hepatitis B Virus Quantitative Test to Help Assess Response to Antiviral Therapy

Quest Diagnostics announced the launch of a new test service that helps physicians evaluate a patient's response to drug therapies used to treat infection with the hepatitis B virus (HBV). The first test of its kind available in the United States, the test is significant because it may help physicians tailor more effective treatments for the up to 2.2 million individuals infected with HBV. Currently, the HBsAg qualitative test is used to aid in diagnosis of patients with HBV. However, this new quantitative test service from Quest measures the quantity, not just the presence, of viral antigen in blood to help determine if the immune system of an individual infected with HBV is responding to treatment. With this insight, physicians are better positioned to monitor response to antiviral medications, and may enable them to modify or adjust treatment to help minimize the likelihood of progression and reactivation.

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