Quest Diagnostics Boosts Outlook, Danaher’s EPS & Revenue Rise, PSTV Braces For Busy Year

The following healthcare companies reported quarterly earnings on Thursday.

1. Quest Diagnostics Inc. (DGX), which reported a 4% decline in revenue for the first quarter of 2022, has raised its guidance for full-year 2022.

Net income attributable to the company declined to $355 million or $2.92 per share on revenue of $2.61 billion in the first quarter of 2022. This compared with income attributable to the company of $469 million or $3.46 per share and revenue of $2.72 billion in the year-ago quarter.

On an adjusted basis, net income attributable to the company was $392 million or $3.22 per share in the first quarter of 2022 compared to $508 million or $3.76 per share in the first quarter of 2021.

For full-year 2022, Quest Diagnostics has raised its adjusted EPS in the range of $9.00 to $9.50 from its prior outlook of $8.65 to $9.35. Net revenue for the year is now expected to range between $9.2 billion and $9.5 billion, up from the prior forecast of $9.0 billion to $9.5 billion.

Wall Street analysts are expecting the company to earn $9.03 per share on revenue of $9.36 billion for 2022.

Adjusted EPS was $14.24 and revenue was $10.79 billion in full year 2021.

DGX has traded in a range of $125.77 to $174.16 in the last 1 year. The stock closed Thursday’s trading at $141.64, up 2.30%.

2. Danaher Corp. (DHR), a global science and technology company, has reported an increase in earnings and revenue for the first quarter of 2022.

For the quarter ended April 1, 2022, net earnings were $1.7 billion or $2.31 per share compared to $1.66 billion or $2.29 per share in the year-ago quarter. On an adjusted basis, non-GAAP net earnings for the first quarter of 2022 were $2.76, up from $2.52 per share in the year-earlier quarter.

Revenue for the first quarter of 2022 rose to $7.69 billion from $6.86 billion in the comparable year-ago period.

The company anticipates non-GAAP base business core revenue growth to be in the mid-single digit percent range for the second quarter 2022 and high-single digit percent range for the full year 2022.

Revenue was $7.2 billion in the second quarter of 2021 and $29.5 billion in full-year 2021.

DHR has traded in a range of $238.32 to $333.96 in the last 1 year. The stock closed Thursday’s trading at $278.24, down 0.76%.

3. Intuitive Surgical Inc. (ISRG) has reported a 15% growth in its first quarter 2022 revenue, driven by growth in da Vinci procedure volume and system placements.

For the first quarter of 2022, revenue was $1.49 billion compared with $1.29 billion in the first quarter of 2021.

The number of da Vinci Surgical Systems placed in the first quarter of 2022 was 311, an increase of 4%, compared with 298 in the year-ago period. Worldwide da Vinci procedures in the first quarter of 2022 grew approximately 19% compared with the first quarter of 2021.

On a non-GAAP basis, net income attributable to the company was $413 million or $1.13 per share in the first quarter of 2022, compared with $427 million or $1.17 per share in the first quarter of 2021.

ISRG has traded in a range of $254.20 to $369.69 in the last 1 year. The stock closed Thursday’s trading at $294.57, down 2.75%.

4. Plus Therapeutics Inc. (PSTV), a clinical-stage pharmaceutical company developing targeted radiotherapeutics for rare and difficult-to-treat cancers, has a number of events lined up for 2022, some of which are the following.

— Upon FDA clearance, a phase II registrational trial of 186RNL in recurrent glioblastoma is expected to be initiated this year.
— A phase I/IIa dose escalation trial of 186RNL in patients with leptomeningeal metastases, dubbed ReSPECT-LM, is underway. Initial safety cohort in the ReSPECT-LM trial is expected to be completed this year.

At March 31, 2022, the company had cash of $21.2 million.

PSTV has traded in a range of $0.81 to $3.54 in the last 1 year. The stock closed Thursday’s trading at $0.88, up 0.55%.

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