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Quest Diagnostics (DGX) Introduces New Post-COVID-19 Panels
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Quest Diagnostics Laboratories, Inc. (DGX - Free Report) recently introduced two advanced Post-COVID-19 panels. These laboratory tests are the only wide-ranging tests available for consumers to purchase that provide information about persistent health issues associated with previous COVID-19 virus infections.
Quest's consumer-initiated test service enables people access to the same quality tests used by doctors and hospitals, offering the information and insights they need about their health. With over 50 lab tests available at questhealth.com, from general health profiles to tests for conditions ranging from heart health to sexually transmitted diseases, consumers can purchase, schedule test appointments, and access results securely from a phone or computer.
More on the New Panels
The Post-COVID-19 Basic Panel collects Data for C-Reactive Protein (CRP) Test, Thyroid function, Vitamin B12 levels, Vitamin D levels and Urinalysis to identify lower urinary tract symptoms and kidney injury caused by inflammation from a severe COVID-19 infection.
Additionally, the Post COVID-19 Expanded Test Panel includes Basic Metabolic Panel (BMP) and Hepatic Function Panel, which are comprehensive screening tools that assess over 15 different substances to evaluate glucose levels, kidney function, liver function, electrolyte and fluid imbalance, and more.
The panel also includes the Complete Blood Count (CBC) to measure 15 components of the blood to help identify bleeding disorders or infections and to evaluate abnormal levels of specific blood components.
Benefits of the Test Panels
It is worth mentioning that, according to the Centers for Diseases Control (CDC), about 1 in 5 American adults who had COVID-19 still suffer adverse side effects, leading to a secondary health crisis. The latest panels provide consumers with a deeper look into their health, helping to prepare them for meaningful discussions with their healthcare providers.
Image Source: Zacks Investment Research
The two post-COVID-19 panels will empower consumers with the data they require to find the best recovery path and ease long COVID-19 symptoms. Further, they will help researchers and healthcare providers better understand COVID-19 side effects.
Industry Prospects
Per a report by BCC Research, the global market for COVID-19 diagnostic services was $60.3 billion in 2020. The market should grow from $84.4 billion in 2021 to $195.1 billion by 2027 at a CAGR of 15.0%.
Given the market opportunities, the latest development is well-timed.
Recent Developments
This month, Quest Diagnostics demonstrated a broad suite of advanced diagnostics and support services. These will be useful in broadening access to laboratory tests for transplanting solid organs, human cells and tissue. Quest Advanced Specialized Transplant Services currently comprises one of the most comprehensive transplant testing portfolios available in the market. It features a broad menu of more than 170 specialized transplant and infectious disease tests.
During the last-reported fourth quarter of 2022, the company launched a solid tumor expanded panel as a laboratory-developed test. This test extends the company’s capabilities beyond tissue pathology to offer a faster turnaround time from cancer diagnosis to therapy selection.
Share Price
In the past year, Quest Diagnostics has outperformed its industry. The stock has dipped 3.4% against a 23.7% decline of the industry.
Zacks Rank and Key Picks
Quest Diagnostics carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
Hologic has gained 1.7% against the industry’s 17.5% growth in the past year.
Henry Schein, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched the same in the other, the average beat being 2.9%.
Henry Schein has lost 12.4% compared with the industry’s 10.9% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.7% compared with the industry’s 17.5% decline in the past year.
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Quest Diagnostics (DGX) Introduces New Post-COVID-19 Panels
Quest Diagnostics Laboratories, Inc. (DGX - Free Report) recently introduced two advanced Post-COVID-19 panels. These laboratory tests are the only wide-ranging tests available for consumers to purchase that provide information about persistent health issues associated with previous COVID-19 virus infections.
Quest's consumer-initiated test service enables people access to the same quality tests used by doctors and hospitals, offering the information and insights they need about their health. With over 50 lab tests available at questhealth.com, from general health profiles to tests for conditions ranging from heart health to sexually transmitted diseases, consumers can purchase, schedule test appointments, and access results securely from a phone or computer.
More on the New Panels
The Post-COVID-19 Basic Panel collects Data for C-Reactive Protein (CRP) Test, Thyroid function, Vitamin B12 levels, Vitamin D levels and Urinalysis to identify lower urinary tract symptoms and kidney injury caused by inflammation from a severe COVID-19 infection.
Additionally, the Post COVID-19 Expanded Test Panel includes Basic Metabolic Panel (BMP) and Hepatic Function Panel, which are comprehensive screening tools that assess over 15 different substances to evaluate glucose levels, kidney function, liver function, electrolyte and fluid imbalance, and more.
The panel also includes the Complete Blood Count (CBC) to measure 15 components of the blood to help identify bleeding disorders or infections and to evaluate abnormal levels of specific blood components.
Benefits of the Test Panels
It is worth mentioning that, according to the Centers for Diseases Control (CDC), about 1 in 5 American adults who had COVID-19 still suffer adverse side effects, leading to a secondary health crisis. The latest panels provide consumers with a deeper look into their health, helping to prepare them for meaningful discussions with their healthcare providers.
Image Source: Zacks Investment Research
The two post-COVID-19 panels will empower consumers with the data they require to find the best recovery path and ease long COVID-19 symptoms. Further, they will help researchers and healthcare providers better understand COVID-19 side effects.
Industry Prospects
Per a report by BCC Research, the global market for COVID-19 diagnostic services was $60.3 billion in 2020. The market should grow from $84.4 billion in 2021 to $195.1 billion by 2027 at a CAGR of 15.0%.
Given the market opportunities, the latest development is well-timed.
Recent Developments
This month, Quest Diagnostics demonstrated a broad suite of advanced diagnostics and support services. These will be useful in broadening access to laboratory tests for transplanting solid organs, human cells and tissue.
Quest Advanced Specialized Transplant Services currently comprises one of the most comprehensive transplant testing portfolios available in the market. It features a broad menu of more than 170 specialized transplant and infectious disease tests.
During the last-reported fourth quarter of 2022, the company launched a solid tumor expanded panel as a laboratory-developed test. This test extends the company’s capabilities beyond tissue pathology to offer a faster turnaround time from cancer diagnosis to therapy selection.
Share Price
In the past year, Quest Diagnostics has outperformed its industry. The stock has dipped 3.4% against a 23.7% decline of the industry.
Zacks Rank and Key Picks
Quest Diagnostics carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 1.7% against the industry’s 17.5% growth in the past year.
Henry Schein, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched the same in the other, the average beat being 2.9%.
Henry Schein has lost 12.4% compared with the industry’s 10.9% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.7% compared with the industry’s 17.5% decline in the past year.