Quest Diagnostics (NASDAQ:DGX) posted better-than-expected earnings for the third quarter on Tuesday.
While Quest Diagnostics raised its revenue and adjusted earnings guidance for full-year 2025, the company lowered its GAAP earnings per share guidance to a range of $8.58 to $8.66 from a prior range of $8.60 to $8.80, which may be weighing on shares.
The company brought in $2.82 billion in revenue, which was up 13.1% from last year and ahead of estimates of $2.74 billion. Quest also reported adjusted earnings per share of $2.60, beating estimates of $2.50. Growth was driven by broad-based adoption of clinical innovations, contributions from acquisitions and growth in the consumer channel.
"We delivered another quarter of robust top- and bottom-line growth, underscoring strong demand for our clinical solutions and diligent execution of our strategy," said Jim Davis, chairman, president and CEO of Quest Diagnostics.
Quest Diagnostics shares fell 1.4% to trade at $181.99 on Wednesday.
These analysts made changes to their price targets on Quest Diagnostics following earnings announcement.
- Truist Securities analyst David Macdonald maintained Quest Diagnostics with a Hold and raised the price target from $195 to $205.
- Barclays analyst Stephanie Davis maintained the stock with an Equal-Weight rating and raised the price target from $190 to $195.
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