Quest Diagnostics Inc. DGX,
said Thursday it will buy back $ 900 million of its own shares in the first half of 2021. In a statement released on Investor Day, the company said the long-term outlook was their time to achieve a complex annual growth rate of 4% to 5% for adjusted earnings per share in the period from 2022 to 2024, and for the company as a whole to grow 7% to 9%. “Benefits from COVID-19 testing continue to help fund investments in the industry, which will enable us to accelerate growth and drive operational excellence,” CEO Steve Rusckowski said in a statement. “Our core business is ready to recover by the end of 2021.” The company still expects EPS in the first half to go from $ 5.07 to $ 6.07 and modified EPS to go from $ 5.90 to Revenue is expected to range from $ 4.85 billion to $ 5.15 billion over that period, with officials briefing on the company’s capital utilization strategy at the briefing. shares were still active pre-sales, but have gained 17% in the last 12 months, while the S&P 500 SPX,
received 42%.