![]() While a faster than expected recovery in DGX's base business could normalize its operations, further growth may be challenging for the company, given the rising competition in the diagnostics market. Consequently, its share price has soared 8% over the past month. However, given its uncertain growth outlook and the growing competition in the COVID-19 diagnostic testing space, can the stock keep rallying? Let's discuss.ĭiagnostic testing provider Quest Diagnostics Incorporated ( DGX ) in Madison, N.J., offers diagnostic information and risk assessment services primarily under the Quest Diagnostics, ExamOne, Dermpath Diagnostics, and Quanum brand names.Īlthough recovery from the pandemic caused a slowdown in its COVID-19 testing business in the first half of the year, the company has been seeing an uptick in testing lately with the rapid spread of the more contagious coronavirus Delta variant across the U.S. ![]() in 2014.The share price of leading diagnostic information services provider Quest Diagnostics (DGX) has been surging as the spread of the COVID-19 Delta variant across the United States increases COVID-19 testing volume. From 2001 to 2020, it underwent 16 significant acquisitions like Memorial Hermann Health System’s outreach laboratory service business in 2020, Boyce & Bynum Pathology Laboratories’ clinical laboratory services business in 2019, Cleveland HeartLab, Inc. By the end of 1996, Quest Diagnostics separated from Corning and became an independent company. After two years its name changed to MetPath which was then changed to Corning Clinical Laboratories in 1982 after Corning Glass Works acquired it. The company was founded in 1967 as Metropolitan Pathology Laboratory, Inc. It trades in the New York Stock Exchange under the ticker symbol DGX share. ![]() Quest Diagnostics is one of the Fortune 500 companies and also a component in the S&P 500 list. Nicolas Institute performs specialised tests for laboratories and hospitals in 26 countries like Mexico, Peru, New Zealand, Taiwan, Chile, Japan, Peru, Australia, France, Panama etc. ![]() The company owns eight brands under it, named - AmriPath, Quest Diagnostics, ExamOne, Quantum Solutions, Athena Diagnostics, Quest HealthConnect, Dermpath Diagnostics and Quest Diagnostics Nichols Institute. Quest Diagnostics offers its services to three categories of clients - patients, physicians & hospitals and organisations & companies. As of 2020, its products are used by 130 countries from across the globe. Quest focuses primarily on 17 types of medical specialists like Pulmonologist, Gastroenterologist, Maternal Foetal Medicine Practitioners, Rheumatologists, Dermatologists, Oncologists, Perinatologist, etc. The company provides testing services for 27 types of medical conditions such as Arthritis, Genetics, HIV, Autoimmune Diseases, Neurology, Toxicology, Lymphoma, Lung Cancer, Paediatrics, General Health, Cardiovascular, Infectious Diseases, Celiac Disease etc. It offers four categories of products and services pertaining to clinical trials testing, wellness & risk management, healthcare IT and diagnostic testing services. The company owns 23 aircraft and 3,700 courier vehicles, alongside employing over 600 PhDs and MDs in its workforce. As of 2020, it has over 2,250 physician offices and around 6,600 patient access points in the US. It has an approximate 47,000 employees working in its operations located across Ireland, India, Mexico and the United States. Headquartered in Secaucus, New Jersey, Quest Diagnostics Inc.
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