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Quest Diagnostics (DGX) Brings New Test for Prostate Cancer
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Quest Diagnostics (DGX - Free Report) recently launched a novel prostate cancer biomarker test through its subspecialty pathology business unit, AmeriPath. The laboratory test is developed in collaboration with Envision Sciences — an Australia-based clinical diagnostics company with a focus on oncology diagnostics and prognostics in tissue and blood.
The innovative prostate biomarker test is introduced to improve the accuracy of grading prostate cancer biopsies. The service addresses the need to fill the clinical gap affecting millions of men for staging, diagnosis and treatment for prostate cancer.
Prevalence of Prostate Cancer
As many as one out of every eight men in the United States is likely to be diagnosed with this deadly cancer during his lifetime, per The American Cancer Society. More than two years after the COVID-19 pandemic began, the diagnoses of prostate and breast cancer continue to lag pre-pandemic levels (as quoted in the recent Quest Diagnostics Health Trends Study). This indicates that presently more people are living with undiagnosed cancers, than before the pandemic.
Image Source: Zacks Investment Research
Despite prostate cancer being one of the most common cancers globally, existing testing methods, in particular for early, lower-grade stages, have limited accuracy across pathologists.
News in Detail
Quest developed and validated the laboratory test under an intellectual property license agreement with Envision, to use its proprietary biomarker and immunohistochemistry technology. This includes Envision's unique staining technology and novel biomarkers (named EV1, EV2 and EV3).
Per a representative at DGX, the collaboration with Envision will expand access to this innovative technology. Quest’s national scale and industry-leading prostate cancer portfolio fortify the company’s efforts to reach a larger number of patients and provide them with diagnostic insights to inform their treatment decisions.
Barring New York, physicians in the United States may order the test with immediate effect.
Industry Prospects
The global prostate cancer therapeutics market was valued at $12.12 billion in 2022 and is expected to witness a CAGR of 8.4% by 2030.
Recent Developments
Earlier this month, DGX launched its first consumer-initiated genetic test, Genetic Insights, which is exclusively available through the company's consumer health business at questhealth.com. The test provides insights based on DNA, with unique features that include next-generation sequencing, robust support services, physician ordering and access to one-on-one genetic counseling.
Further, in collaboration with Proov, Quest availed of the novel Proov Confirm PdG home collection kit for assessing fertility, for purchase through questhealth.com.
Price Performance
In the past six months, DGX shares have declined 4.8% compared with the industry’s 0.3% fall.
Haemonetics’ stock has risen 33.7% in the past year. The Zacks Consensus Estimate for Haemonetics’ earnings per share (EPS) has increased from $3.55 to $3.56 for fiscal 2024 and remained constant at $3.96 for fiscal 2025 in the past 30 days.
HAE’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, the company registered an earnings surprise of 13.24%.
The Zacks Consensus Estimate for Zimmer Biomet’s 2023 EPS has remained constant at $7.45 in the past 30 days. Shares of the company have rallied 38.3% in the past year against the industry’s 20.6% decline.
ZBH’s earnings beat estimates in all the trailing four quarters, the average surprise being 7.38%. In the last reported quarter, the company recorded an earnings surprise of 13.86%.
The Zacks Consensus Estimate for SiBone’s 2023 loss per share has narrowed from $1.44 to $1.42 in the past 30 days. SIBN shares have surged 109.5% in the past year compared with the industry’s 14.8% growth.
SiBone’s earnings beat estimates in three of the trailing four quarters and missed the same once, the average surprise being 11.11%. In the last reported quarter, the company recorded an earnings surprise of 21.95%.
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Quest Diagnostics (DGX) Brings New Test for Prostate Cancer
Quest Diagnostics (DGX - Free Report) recently launched a novel prostate cancer biomarker test through its subspecialty pathology business unit, AmeriPath. The laboratory test is developed in collaboration with Envision Sciences — an Australia-based clinical diagnostics company with a focus on oncology diagnostics and prognostics in tissue and blood.
The innovative prostate biomarker test is introduced to improve the accuracy of grading prostate cancer biopsies. The service addresses the need to fill the clinical gap affecting millions of men for staging, diagnosis and treatment for prostate cancer.
Prevalence of Prostate Cancer
As many as one out of every eight men in the United States is likely to be diagnosed with this deadly cancer during his lifetime, per The American Cancer Society. More than two years after the COVID-19 pandemic began, the diagnoses of prostate and breast cancer continue to lag pre-pandemic levels (as quoted in the recent Quest Diagnostics Health Trends Study). This indicates that presently more people are living with undiagnosed cancers, than before the pandemic.
Image Source: Zacks Investment Research
Despite prostate cancer being one of the most common cancers globally, existing testing methods, in particular for early, lower-grade stages, have limited accuracy across pathologists.
News in Detail
Quest developed and validated the laboratory test under an intellectual property license agreement with Envision, to use its proprietary biomarker and immunohistochemistry technology. This includes Envision's unique staining technology and novel biomarkers (named EV1, EV2 and EV3).
Per a representative at DGX, the collaboration with Envision will expand access to this innovative technology. Quest’s national scale and industry-leading prostate cancer portfolio fortify the company’s efforts to reach a larger number of patients and provide them with diagnostic insights to inform their treatment decisions.
Barring New York, physicians in the United States may order the test with immediate effect.
Industry Prospects
The global prostate cancer therapeutics market was valued at $12.12 billion in 2022 and is expected to witness a CAGR of 8.4% by 2030.
Recent Developments
Earlier this month, DGX launched its first consumer-initiated genetic test, Genetic Insights, which is exclusively available through the company's consumer health business at questhealth.com. The test provides insights based on DNA, with unique features that include next-generation sequencing, robust support services, physician ordering and access to one-on-one genetic counseling.
Further, in collaboration with Proov, Quest availed of the novel Proov Confirm PdG home collection kit for assessing fertility, for purchase through questhealth.com.
Price Performance
In the past six months, DGX shares have declined 4.8% compared with the industry’s 0.3% fall.
Zacks Rank and Key Picks
DGX currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Haemonetics (HAE - Free Report) , Zimmer Biomet (ZBH - Free Report) and SiBone (SIBN - Free Report) . While Haemonetics sports a Zacks Rank #1 (Strong Buy), Zimmer Biomet and SiBone each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 33.7% in the past year. The Zacks Consensus Estimate for Haemonetics’ earnings per share (EPS) has increased from $3.55 to $3.56 for fiscal 2024 and remained constant at $3.96 for fiscal 2025 in the past 30 days.
HAE’s earnings beat estimates in all the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, the company registered an earnings surprise of 13.24%.
The Zacks Consensus Estimate for Zimmer Biomet’s 2023 EPS has remained constant at $7.45 in the past 30 days. Shares of the company have rallied 38.3% in the past year against the industry’s 20.6% decline.
ZBH’s earnings beat estimates in all the trailing four quarters, the average surprise being 7.38%. In the last reported quarter, the company recorded an earnings surprise of 13.86%.
The Zacks Consensus Estimate for SiBone’s 2023 loss per share has narrowed from $1.44 to $1.42 in the past 30 days. SIBN shares have surged 109.5% in the past year compared with the industry’s 14.8% growth.
SiBone’s earnings beat estimates in three of the trailing four quarters and missed the same once, the average surprise being 11.11%. In the last reported quarter, the company recorded an earnings surprise of 21.95%.