Quest Diagnostics Is Set to Ride Out Coronavirus Concerns
Despite recent layoffs and cutbacks, diagnostic testing giant Quest Diagnostics (NYSE: DGX) is a good long-term buy for investors looking for safety because it has been extending its already impressive reach in the United States.
Based in Secaucus, N.J., Quest is the world leader in its space; the company says its 2,250 offices annually serve one in three Americans and one in two doctors and hospitals. Quest's star has been on the rise since it expanded into a partnership with UnitedHealthcare (NYSE: UNH) in 2018, with fourth-quarter 2019 revenues of $1.93 billion, up 4.8% over the same quarter in 2018.
Quest beat analyst forecasts when its first-quarter earnings were reported this week, but there was plenty of bad news, too.
Source Fool.com
