Apple Health Partnership Boosts Quest Diagnostics Stock
Quest Diagnostics stock has gained attention after announcing a partnership with Apple Health to offer lab testing services directly through the app. The integration will allow users in the US to purchase a tailored Quest laboratory test panel, including over 50 biomarkers, for $119. This panel can be scheduled at approximately 2,000 Quest Diagnostics patient service centers.
The partnership is part of Quest's efforts to push deeper into preventive health testing. The company has reported solid earnings, with revenue of $11.56 billion and net income of $1.06 billion over the trailing twelve months. Its profit margin stands at 9.19 percent, and diluted EPS is $9.42.
Investors will be monitoring Quest's valuation, which trades at roughly 2.6 times its price-earnings multiple relative to its profit margin of 9.19 percent. The company has a moderate leverage level, with total debt to equity standing at 81.07 percent. Its forward annual dividend is $3.44 per share, corresponding to a forward dividend yield of 1.46 percent.