Jim Grant On The Short Thesis For Quest Diagnostics Inc (DGX)

An article in last week’s issue of Grant’s Interest Rate Observer put forward the case that Quest Diagnostics will struggle going forward as the falling cost of medical testing weighs on the company’s growth. Grant’s article on uest Diagnostics Inc (DGX) went to press before the company reported second quarter earnings, which beat expectations. The company reported second-quarter earnings per share of $1.25 excluding items and revenue of $1.93 billion. Analysts were expecting adjusted earnings of $1.23 a share and revenue of $1.93 billion. First quarter figures Grant’s draws on first quarter figures to present the bear case for Quest Diagnostics. For…