Updated from 10:50 a.m. EDT
, one of the largest clinical laboratory testing companies in the U.S., hit a new 52-week high Tuesday after the company said it expects to exceed Wall Street's profit expectations for the second quarter by 15 cents a share.
Teterboro, N.J.-based Quest said it increased sales by modifying managed-care contracts.
Including a charge that will shave 3 cents off its per-share earnings, Quest said it expects profit from operations to be 64 cents a share, vs. the 49-cent average estimate of analysts surveyed by
First Call/Thomson Financial
The company said it expects profit for 2000 to exceed the $1.81 average estimate of analysts. It will announce results July 24.
Quest shares jumped on the news, finishing regular trading up 12, or 15%, at 93.