Seeking Alpha

Quest Diagnostics raises low end of 2013 profit estimate, opens +1.5%

  • Quest Diagnostics (DGX +1.5%) opens higher after raising its 2013 EPS guidance to $3.90-$3.95 from $3.85-$3.95, vs. $3.90 analyst consensus estimate.
  • Revenues are expected to come in ~3.5% Y/Y at ~$7.12B, unchanged from prior guidance; analyst consensus is $7.13B.
  • The announcement likely is a response to LabCorp's (LH) 2014 guidance release on Tuesday and aimed at easing investor fears over industry fundamentals; DGX shares had dropped 7% since LH guidance.
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