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DGX

Quest Diagnostics

$102.11

0.56 (0.55%)

11:06
09/23/17
09/23
11:06
09/23/17
11:06

Quest Diagnostics 'disappointed' with proposed PAMA 2018 Medicare payment rates

Quest Diagnostics has responded to the Centers for Medicare and Medicaid Services, or CMS, publication of proposed 2018 Medicare reimbursement rates for clinical laboratory tests under the Clinical Lab Fee Schedule, or CLFS, pursuant to Protecting Access to Medicare Act, or PAMA, announced September 22, 2017. "We are deeply disappointed that CMS has issued draft 2018 Medicare payment rates that are not market-based and derived from flawed market data collection that excluded key components of the lab market," said Steve Rusckowski, Chairman, President and CEO of Quest Diagnostics. "For example, hospitals and physician office labs comprise half of Medicare CLFS volume and lab spending, but only accounted for 8.5% of the reported lab volume used by CMS to calculate the rates. These draft rates are counter to the intent of Congress and will likely cause significant negative impacts to Medicare beneficiary access to lab services. These rates should not be finalized, and I fully support the American Clinical Laboratory Association's plan to explore all available options, including the courts if necessary, to ensure that patients have access to the services we provide."

  • 30

    Nov

DGX Quest Diagnostics
$102.11

0.56 (0.55%)

09/18/17
CHLM
09/18/17
NO CHANGE
CHLM
Quest, LabCorp better prepared to absorb PAMA impact, says Craig-Hallum
Craig-Hallum analyst Kevin Ellich believes the large independent labs, Quest Diagnostics (DGX) and LabCorp (LH), are better prepared to absorb the potential impact from PAMA - Protecting Access to Medicare Act - if it is implemented, as slated, on January 1, 2018 than smaller labs. The analyst does not believe PAMA is fully reflected in the valuations of the stocks, and thinks Quest Diagnostics and LabCorp could benefit from increased testing volume as potential rate cuts attributable to PAMA could push smaller labs out of business while pressuring hospital lab margins such that hospitals might choose to rationalize their lab businesses.
09/11/17
ADAM
09/11/17
NO CHANGE
Target $180
ADAM
Buy
LabCorp price target raised to $180, remains top pick for 2017, says Canaccord
Canaccord analyst Mark Massaro raised his price target on LabCorp (LH) to $180 from $175 and said it remains one of his top five picks for 2017. Massaro said the stock's valuation remains below competitor Quest Diagnostics (DGX) and he believes investors should own shares in both companies. He noted LabCorp completed its acquisition of Chiltern, which he estimates can be accretive to earnings in year one. Massaro reiterated his Buy rating on LabCorp. shares.
07/26/17
ADAM
07/26/17
NO CHANGE
Target $118
ADAM
Buy
Quest Diagnostics weakness overdone, says Canaccord
Canaccord analyst Mark Massaro said Quest Diagnostics delivered solid Q2 results and raised its guidance. He believes Quest is well positioned to achieve growth from acquisitions, develop higher fee cash flow, and continue stock buybacks. Massaro said yesterday's modest pullback is overdone and he reiterated his Buy rating and $118 price target on Quest Diagnostics shares.
07/25/17
BOFA
07/25/17
UPGRADE
Target $118
BOFA
Buy
Quest Diagnostics upgraded on view FY18 consensus too low at BofA/Merrill
As previously reported, BofA/Merrill Lynch analyst Steven Valiquette upgraded Quest Diagnostics to Buy from Neutral as he believes that consensus estimates for 2018 seem too low given Quest's current momentum and the company's increased FY17 sales and EPS guidance. Valiquette raised his 2018 EPS estimate to $6.08, which he noted is "well above" the current consensus view of $5.91, adding that a delay in PAMA reimbursement changes could yield further EPS upside. The analyst increased his price target on Quest shares to $118 from $111.

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COTY

Coty

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$NSD

NASDAQ Market Internals

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FB

Facebook

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$NYE

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PYPL

PayPal

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MSFT

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MA

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General Motors

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UAL

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UAL

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GS

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MS

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MFG

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UN

Unilever; also tag UL

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UL

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BX

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APO

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XPO

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SCSS

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UAL

United Continental

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BX

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QCOM

Qualcomm

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FIZZ

National Beverage

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WPM

Wheaton Precious Metals

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0.586 (2.93%)

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BA

Boeing

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  • 25

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AEM

Agnico Eagle

$45.12

0.3 (0.67%)

11:35
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