Quest Diagnostics Faces Increasing Price Pressure; No Change to Our FVE
Quest Diagnostics reported third-quarter results that fell slightly short of our expectations, but our adjustments through 2019 weren’t enough to move the needle on our fair value estimate, which remains at $105 per share. We’re pleased to see quarterly volume up 2% (0.7% organically). However, we’re now beginning to see the extent to which the PAMA-led Medicare clinical lab fee schedule cuts are hitting Quest’s business, as price per requisition fell 0.8% year over year. We think 2019 will be a...Quest Diagnostics provides diagnostic information services. The company's diagnostic information segment provides information based on the menu of routine, non-routine and clinical testing and anatomic pathology testing, and other diagnostic information services. The company's testing capabilities, includes services for the predisposition, diagnosis, treatment and monitoring of cancers and other diseases, and provides tests in several fields, including endocrinology, immunology, neurology and oncology. The company's diagnostic solutions provides risk assessment services for the life insurance industry, as well as provides healthcare organizations and clinicians health information technology solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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