On its third quarter 2026 earnings call on October 22, 2026, Quest Diagnostics (DGX) reported 10% revenue growth and raised its full-year revenue and EPS guidance. Management highlighted three points: consumer health revenue is expected to grow more than 30% through an Apple Health partnership that lets users buy, schedule and receive results for over 50 biomarkers in the app; laboratory automation and AI, under its Invigorate cost program, are helping offset wage inflation and lift margins; and proposed PAMA Medicare rate cuts could hit top-line revenue by 1% in 2027, prompting advocacy for the RESULTS Act, which has over 135 co-sponsors in Congress.
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- Quest Diagnostics Incorporated Q3 2026 Earnings Call Summary
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UnitedHealth shares rose 4% to $395.19 after third-quarter 2026 adjusted EPS of $4.69 beat the $4.15 consensus, and management raised its full-year adjusted EPS outlook to at least $20.50. The medical care ratio improved to 88.4% from 89.9%, but this included $610 million of net favorable prior period reserve development, which the article notes may not repeat. Optum Health posted operating earnings of $735 million versus $41 million a year earlier after exiting value-based care markets, though its revenue fell 10%. Membership fell to 48.3 million from 50.1 million and total revenue dipped 0.4% to $112.69 billion, while Medicare Advantage enrollment has dropped by 935,000 since year-end 2025. Elevance Health and Humana each rose about 2%, and $5 billion in share buybacks through September 30 is cited as supporting the bull case.
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UnitedHealth reports earnings on Tuesday ahead of the October 13 release, and implied volatility is running at twice realized volatility, making options expensive. The article says management's 13% to 16% EPS growth target looks achievable, with the stock trading at 17 times forward earnings. Commercial fee-based enrollment grew about 2.9% and Medicare enrollment 4.5% from 2024 to 2025, while ACA marketplace enrollment is expected to decline. Options imply a 6.5% earnings move, the second-highest in nearly two years. The article outlines a trade buying the January 2027 400 call for $18.20 and selling the November 420 call at $5.80 and November 340 put at $4.80, for a net debit of about $7.60 and a $407.60 breakeven at January expiration.
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