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Quest Diagnostics (DGX) and Fitbit Team Up for New Pilot Study
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Quest Diagnostics (DGX - Free Report) recently announced a collaboration with the leading health and fitness platform, Fitbit, to study the potential of wearable devices to improve metabolic health. The Wearables for Metabolic Health (WEAR-ME) pilot study will pair behavioral and biometric data from Fitbit devices with health insights from Quest Diagnostics' laboratory tests to explore ways to combine and analyze data for the enhanced assessment and management of metabolic health and aid in disease prevention.
The latest development will significantly boost the company’s consumer health business, which includes its consumer-initiated testing platform at questhealth.com. The WEAR-ME pilot study is expected to be completed in 2024.
A Backdrop of the News
Poor metabolic health is a major risk factor for chronic diseases and serious health conditions, including heart disease, diabetes and stroke. Metabolic health is assessed using several benchmarks, including blood sugar, cholesterol and triglycerides. In a recent study that explored the prevalence and risk factors of metabolic health, 63% of the participants exhibited metabolic syndrome. Factors like physical activity, a healthful diet and quality sleep can help reduce the risk of developing these conditions.
Image Source: Zacks Investment Research
By teaming up, Quest Diagnostics and Fitbit will harness laboratory testing to better understand the type of information that empowers people to make healthy choices that ultimately improve their health. This study marks a crucial step in their efforts to understand the potential of wearable devices to improve metabolic health and develop new strategies for managing chronic diseases.
News in Detail
The WEAR-ME study aims to evaluate the effect of wearables on users' behaviors as assessed based on objective laboratory test results. While data shows wearables can favorably influence users' modifiable behaviors, such as diet, exercise and sleep, research on health outcomes by objective measures is less established.
The IRB-approved study will invite approximately 1,500 existing Fitbit users to join and consent to share three months of their Fitbit data. Participants will also be given the opportunity to receive laboratory testing at no cost, using a panel of blood tests specifically designed to assess metabolic health, including blood sugar, cholesterol and triglycerides.
Registration can be done through the Google Health Studies App, where study participants will be prompted to schedule an appointment for a blood draw at a Quest patient service center. A third-party physician will order tests for participants. In addition, they will have direct access to their lab test results through the Google app and DGX’s free mobile app, MyQuest.
Industry Prospects
Per a research report, the global wearable technology market was valued at $61.3 billion in 2022 and is expected to witness a CAGR of 14.6% by 2030.
Developments in Consumer Health Business
Quest Diagnostics offers consumer-initiated testing that allows consumers to request their own lab tests, take control of and better understand their own health through access to personal diagnostic information. Throughout 2023, the company delivered solid base business revenue growth from its consumer-initiated testing channel.
Earlier in July 2023, DGX launched its first consumer-initiated genetic test, Genetic Insights, at questhealth.com. The new offering provides insights based on DNA, with features that include next-generation sequencing, robust support services, physician ordering and access to one-on-one genetic counseling. The company also introduced the AD-Detect test — the first blood-based biomarker test for assessing beta amyloid protein, a recognized marker of Alzheimer's disease, available for consumer purchase at questhealth.com.
Price Performance
In the past six months, shares of DGX have decreased 6.5% compared with the industry’s fall of 0.1%.
Zacks Rank and Key Picks
Quest Diagnostics currently carries a Zacks Rank #3 (Hold).
Haemonetics stock has decreased 6.5% in the past year. Earnings estimates for Haemonetics have remained constant at $3.89 in 2024 and at $4.15 in 2025 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for DaVita’s 2023 earnings per share have remained constant at $8.07 in the past 30 days. Shares of the company have increased 31.2% in the past year compared with the industry’s rise of 6.9%.
DVA’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.6%. In the last reported quarter, it delivered an average earnings surprise of 48.4%.
Estimates for HealthEquity’s 2023 earnings per share have increased from $2.03 to $2.15 in the past 30 days. Shares of the company have increased 29.6% in the past year against the industry’s 6% fall.
HQY’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 16.5%. In the last reported quarter, it delivered an average earnings surprise of 22.5%.
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Quest Diagnostics (DGX) and Fitbit Team Up for New Pilot Study
Quest Diagnostics (DGX - Free Report) recently announced a collaboration with the leading health and fitness platform, Fitbit, to study the potential of wearable devices to improve metabolic health. The Wearables for Metabolic Health (WEAR-ME) pilot study will pair behavioral and biometric data from Fitbit devices with health insights from Quest Diagnostics' laboratory tests to explore ways to combine and analyze data for the enhanced assessment and management of metabolic health and aid in disease prevention.
The latest development will significantly boost the company’s consumer health business, which includes its consumer-initiated testing platform at questhealth.com. The WEAR-ME pilot study is expected to be completed in 2024.
A Backdrop of the News
Poor metabolic health is a major risk factor for chronic diseases and serious health conditions, including heart disease, diabetes and stroke. Metabolic health is assessed using several benchmarks, including blood sugar, cholesterol and triglycerides. In a recent study that explored the prevalence and risk factors of metabolic health, 63% of the participants exhibited metabolic syndrome. Factors like physical activity, a healthful diet and quality sleep can help reduce the risk of developing these conditions.
Image Source: Zacks Investment Research
By teaming up, Quest Diagnostics and Fitbit will harness laboratory testing to better understand the type of information that empowers people to make healthy choices that ultimately improve their health. This study marks a crucial step in their efforts to understand the potential of wearable devices to improve metabolic health and develop new strategies for managing chronic diseases.
News in Detail
The WEAR-ME study aims to evaluate the effect of wearables on users' behaviors as assessed based on objective laboratory test results. While data shows wearables can favorably influence users' modifiable behaviors, such as diet, exercise and sleep, research on health outcomes by objective measures is less established.
The IRB-approved study will invite approximately 1,500 existing Fitbit users to join and consent to share three months of their Fitbit data. Participants will also be given the opportunity to receive laboratory testing at no cost, using a panel of blood tests specifically designed to assess metabolic health, including blood sugar, cholesterol and triglycerides.
Registration can be done through the Google Health Studies App, where study participants will be prompted to schedule an appointment for a blood draw at a Quest patient service center. A third-party physician will order tests for participants. In addition, they will have direct access to their lab test results through the Google app and DGX’s free mobile app, MyQuest.
Industry Prospects
Per a research report, the global wearable technology market was valued at $61.3 billion in 2022 and is expected to witness a CAGR of 14.6% by 2030.
Developments in Consumer Health Business
Quest Diagnostics offers consumer-initiated testing that allows consumers to request their own lab tests, take control of and better understand their own health through access to personal diagnostic information. Throughout 2023, the company delivered solid base business revenue growth from its consumer-initiated testing channel.
Earlier in July 2023, DGX launched its first consumer-initiated genetic test, Genetic Insights, at questhealth.com. The new offering provides insights based on DNA, with features that include next-generation sequencing, robust support services, physician ordering and access to one-on-one genetic counseling. The company also introduced the AD-Detect test — the first blood-based biomarker test for assessing beta amyloid protein, a recognized marker of Alzheimer's disease, available for consumer purchase at questhealth.com.
Price Performance
In the past six months, shares of DGX have decreased 6.5% compared with the industry’s fall of 0.1%.
Zacks Rank and Key Picks
Quest Diagnostics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , DaVita (DVA - Free Report) and HealthEquity (HQY - Free Report) . Haemonetics and HealthEquity each presently carry a Zacks Rank #2 (Buy), and DaVita sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics stock has decreased 6.5% in the past year. Earnings estimates for Haemonetics have remained constant at $3.89 in 2024 and at $4.15 in 2025 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for DaVita’s 2023 earnings per share have remained constant at $8.07 in the past 30 days. Shares of the company have increased 31.2% in the past year compared with the industry’s rise of 6.9%.
DVA’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 36.6%. In the last reported quarter, it delivered an average earnings surprise of 48.4%.
Estimates for HealthEquity’s 2023 earnings per share have increased from $2.03 to $2.15 in the past 30 days. Shares of the company have increased 29.6% in the past year against the industry’s 6% fall.
HQY’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 16.5%. In the last reported quarter, it delivered an average earnings surprise of 22.5%.