Quest Diagnostics surges after quarterly profit beat

Shares of lab operator Quest Diagnostics DGX.N surge 8.7% to $175.84

Stock set for its best day in nearly five years, if gains hold

DGX posts Q1 adj. profit of $2.21 per share helped by robust demand for its diagnostic tests, beating analysts' estimates of $2.15, according to data compiled by LSEG

Company reports Q1 revenue of $2.65 billion vs estimates of $2.63 billion

Company continues to expect annual adjusted profit per share in the range of $9.55 and $9.80 vs estimates of $9.68

Brokerage Mizuho says DGX's business trends are stable and strong, benefiting from growth in physician and hospital markets, and incremental gains from acquisitions, despite weather impacts

Mizuho sees 2025 as a pivotal year to determine if there is a positive structural shift in the overall demand environment for clinical lab testing

As of last close, DGX had risen 7.3% YTD