2023-03-07 10:15:00 ET
Diversifying across economic sectors that provide highly valued goods or services is a foolproof blueprint for success as an investor. Diagnostic tests will continue to guide treatment decisions made by healthcare professionals and their patients. If there's a demand for healthcare, there should also always be a need for diagnostic tests.
One of the leading diagnostic test makers is Quest Diagnostics (NYSE: DGX) . But should dividend growth investors consider this company for their portfolio after last month's 7.6% raise in its quarterly dividend per share? To figure that out, let's peek under the hood of Quest Diagnostics' fundamentals and valuation.
Quest Diagnostics is likely most well-known by patients for its variety of COVID-19 tests. But with more than 3,500 different lab tests performed at over 2,200 locations in the U.S., the company isn't dependent on COVID tests for its revenue. In fact, Quest Diagnostics' product offerings are so wide-ranging that it serves one-third of the adult U.S. population and half of U.S. physicians and hospitals each year.
For further details see:
Is This Healthcare Stock a Buy for Dividend Growth Investors?