![]() ![]() The collaborations with health plans, hospitals and physicians have aided the company in the elevated service demand, which marks a continued return to care. Volume Rebound in the Base Business: Quest Diagnostics is benefiting from solid volume growth across its base business (which refers to testing volumes, excluding COVID-19 testing). The Haystack acquisition will be modestly dilutive to earnings over the next three years and accretive by 2026. The test will likely be launched from the Oncology Center of Excellence in Lewisville, Texas, where the solid tumor expanded panel for tumor sequencing and therapy monitoring was recently introduced. With the post-acquisition integration remaining on track, the company expects to introduce the first MRD test in early 2024. Combining with Haystack puts DGX in a solid position to enter the high-growth area of minimal residual disease or MRD testing. In light of this, the company recently completed the acquisition of Haystack Oncology, which was announced on the day of the first-quarter 2023 earnings call. The company’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 4.92%.Īccelerate Growth Strategy Bodes Well: Quest Diagnostics continues to progress in terms of its two-point business strategy, the first of which is accelerating growth. Quest Diagnostics has an earnings yield of 6.92% compared with the industry’s yield of 4.09%. The renowned provider of diagnostic information services has a market capitalization of $14.09 million. ![]()
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