The company presently carries a Zacks Rank #2. Medtronic’s long-term earnings growth rate is estimated at 7.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. It currently carries a Zacks Rank #2 (Buy). ResMed has a projected long-term earnings growth rate of 14.5%. Some better-ranked stocks from the broader medical space are ResMed Inc. Shares of Quest Diagnostics have rallied 31.3% in the past year compared with the industry’s 2.9% growth.Ĭurrently, the company carries a Zacks Rank #3 (Hold).
Quest diagnostics fort pierce professional#
After the buyout, BCL’s patients and providers will have access to Quest Diagnostics’ broader range of diagnostic services, a larger network of patient service centers, and access to tools such as the company’s Quanum suite of healthcare information technologies as well as data analytics.Īlso, the company signed a professional laboratory services agreement with an eight-hospital health system in Tennessee. In December 2019, Quest Diagnostics acquired certain assets of the clinical laboratory services business of Boston Clinical Laboratories (“BCL”), which is a Waltham-based regional provider of laboratory services. This will enable the company to improve patient care as well as pharmaceutical drug research and development. Through the buyout, Quest Diagnostics will gain access to actionable insights in genetic and rare diseases. In the same month, the company acquired Blueprint Genetics - a key specialty genetic testing firm with experience in gene variant interpretation based on next generation sequencing and bioinformatics. The collaboration was aimed for gaining more access to innovative and high-value laboratory services for providers as well as patients in Greater Houston. Quest Diagnostics entered into a multi-pronged long-term collaboration with Memorial Hermann Health System (a key not-for-profit health system that includes 17 hospitals and more than 300 care delivery sites in the Greater Houston) in January, 2020.
Factors like rising prevalence of chronic diseases and growing awareness among the health-conscious population are expected to drive the market.Ĭonsidering the rising impact of COVID-19, Quest Diagnostics seems to be well positioned in the niche market. Per a report by Grand View Research, the global clinical laboratory tests market was valued at $176.7 billion in 2019 and is expected to register a CAGR of 7.1% between 20. Currently, LabCorp is pursuing an EUA for the NAA test. The test will be used for patients that meet the current evaluation guidance of infection with the same. Notably, the company’s direct peer LabCorp LH also announced the availability of LabCorp 2019 Novel Coronavirus (COVID-19), NAA test, which detects the presence of the underlying virus causing the COVID-19. Patients, who are suspected as well as confirmed to have COVID-19, should consult a physician for advices about the process to provide specimens for testing by the company. However, the company has notified that it is not collecting any sample at its patient service centers and phlebotomy sites. Per Quest Diagnostics, the test service is expected to employ respiratory specimens collected in suitable health care settings, such as hospitals and physician offices.
The company will submit the same for the FDA’s review within 15 days of clinical testing, as mandated by the guidance. However, the FDA’s review under emergency use authorization (“EUA”) is still pending.
Quest Diagnostics will provide the service as a laboratory-developed test.
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