“Despite multiple unexpected headwinds affecting DGX‘s 2018, including greater denials and higher-than-expected patient concessions, among other factors, we are optimistic that long-term growth drivers are intact, including greater in-network access, continuing innovation, consumer-centric initiatives, and capital deployment, where reimbursement pressures and recent payer contract shifts will likely spur industry consolidation… These drivers should support +3-5% top-line growth (+1-3% organic) and +4-6% earnings growth long term, dynamics that we view as adequately reflected in the consensus and our expectations, limiting more meaningful upside near term…”
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