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 to $9.80 vs estimates of $9.68

Shares of peer Labcorp Holdings LH.N up 3.6% at $219.84; co is set to report Q1 results on April 29

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