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Quest Diagnostics (DGX) Advances Access to Transplant Services
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Quest Diagnostics (DGX - Free Report) recently unveiled Quest Advanced Specialized Transplant Services. The portfolio features more than 170 specialized transplant and infectious disease tests, longitudinal trend analysis of test results in the physician's EMR and continuous medical consultation to ensure appropriate test selection and results interpretation affecting care.
The comprehensive suite of advanced diagnostics and support services expands Quest Diagnostics’ previous offering in transplant testing.
Significance
The specialized services were designed to widen access to laboratory tests for transplanting solid organs, human cells and tissue. This includes providing customized information packets to patients for understanding the process and fast-track testing by the company’s phlebotomists.
Further, both transplant recipients and living donors are given the discretion to opt for at-home specimen collection from one of the 5000 mobile phlebotomists through the ExamOne portal.
Image Source: Zacks Investment Research
The newest capabilities also support Apolipoprotein L1 (APOL1) Renal Risk Variant Genotyping, an advanced genetic test to help evaluate kidney disease risks for donors and the longitudinal tracking of viral load test results according to the specimen type within the EMR.
Addressing the challenges of commuting a long distance for transplant surgery at a specialized center, the new services are made available to recipients and living donors across the United States, barring Alaska and Hawaii.
Per a representative at Quest Diagnostics, the company’s collaboration with transplant centers, hospital health systems and other providers will ensure that patients have access to advanced and personalized transplant diagnostics, regardless of the location of the surgical center.
Industry Prospects
Per a Research report, the global transplant diagnostics market was valued at $3.9 billion in 2021 and is expected to witness a CAGR of 7.8% till 2030.
The rising number of transplant procedures and technological advancements in the field of transplant diagnostics are driving market growth.
Recent Developments
In March 2023, Quest Diagnostics completed its planned acquisition of the Northern Light Laboratory business of Northern Light Health, a large integrated healthcare system in Maine. The collaboration will potentially enable physicians and patients across Maine to have access to Quest's industry-leading and highly innovative test menu, the network of patient access sites throughout the state, broad health plan coverage, and other services at a reasonable price.
Earlier in February, the company also teamed up with the Pennsylvania-based healthcare system, Tower Health, to enhance the quality and value of diagnostic services to patients and their doctors. The multi-year agreement will allow Quest Diagnostics to share its expertise in the laboratory supply chain and perform reference testing for Tower, along with exploring additional opportunities that drive long-term value for both organizations.
Price Performance
In the past six months, shares of the company have increased 14.9% compared with the industry’s rise of 9.2%.
Zacks Rank and Key Picks
Quest Diagnostics currently carries a Zacks Rank #3 (Hold).
Lantheus’ stock has risen 41.6% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 3.4% in the past year compared with the industry’s fall of 14.9%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 23.1% in the past year. The company has an estimated earnings growth rate of 56.59% for the next year.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.
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Quest Diagnostics (DGX) Advances Access to Transplant Services
Quest Diagnostics (DGX - Free Report) recently unveiled Quest Advanced Specialized Transplant Services. The portfolio features more than 170 specialized transplant and infectious disease tests, longitudinal trend analysis of test results in the physician's EMR and continuous medical consultation to ensure appropriate test selection and results interpretation affecting care.
The comprehensive suite of advanced diagnostics and support services expands Quest Diagnostics’ previous offering in transplant testing.
Significance
The specialized services were designed to widen access to laboratory tests for transplanting solid organs, human cells and tissue. This includes providing customized information packets to patients for understanding the process and fast-track testing by the company’s phlebotomists.
Further, both transplant recipients and living donors are given the discretion to opt for at-home specimen collection from one of the 5000 mobile phlebotomists through the ExamOne portal.
Image Source: Zacks Investment Research
The newest capabilities also support Apolipoprotein L1 (APOL1) Renal Risk Variant Genotyping, an advanced genetic test to help evaluate kidney disease risks for donors and the longitudinal tracking of viral load test results according to the specimen type within the EMR.
Addressing the challenges of commuting a long distance for transplant surgery at a specialized center, the new services are made available to recipients and living donors across the United States, barring Alaska and Hawaii.
Per a representative at Quest Diagnostics, the company’s collaboration with transplant centers, hospital health systems and other providers will ensure that patients have access to advanced and personalized transplant diagnostics, regardless of the location of the surgical center.
Industry Prospects
Per a Research report, the global transplant diagnostics market was valued at $3.9 billion in 2021 and is expected to witness a CAGR of 7.8% till 2030.
The rising number of transplant procedures and technological advancements in the field of transplant diagnostics are driving market growth.
Recent Developments
In March 2023, Quest Diagnostics completed its planned acquisition of the Northern Light Laboratory business of Northern Light Health, a large integrated healthcare system in Maine. The collaboration will potentially enable physicians and patients across Maine to have access to Quest's industry-leading and highly innovative test menu, the network of patient access sites throughout the state, broad health plan coverage, and other services at a reasonable price.
Earlier in February, the company also teamed up with the Pennsylvania-based healthcare system, Tower Health, to enhance the quality and value of diagnostic services to patients and their doctors. The multi-year agreement will allow Quest Diagnostics to share its expertise in the laboratory supply chain and perform reference testing for Tower, along with exploring additional opportunities that drive long-term value for both organizations.
Price Performance
In the past six months, shares of the company have increased 14.9% compared with the industry’s rise of 9.2%.
Zacks Rank and Key Picks
Quest Diagnostics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Lantheus , Avanos Medical (AVNS - Free Report) and Insulet (PODD - Free Report) . Lantheus sports a Zacks Rank #1 (Strong Buy), while Avanos Medical and Insulet each carry a Zack Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Lantheus’ stock has risen 41.6% in the past year. Earnings estimates for Lantheus have remained constant at $4.79 per share for 2023 and at $5.32 for 2024 in the past 30 days.
LNTH’s earnings beat estimates in all the last four quarters, delivering an average surprise of 50%. In the last reported quarter, it reported an earnings surprise of 42.71%.
Estimates for Avanos Medical in 2023 have remained constant at $1.68 per share in the past 30 days. Shares of the company have declined 3.4% in the past year compared with the industry’s fall of 14.9%.
Avanos Medical’s earnings beat estimates in all the trailing four quarters, the average surprise being 11.01%. In the last reported quarter, AVNS delivered an earnings surprise of 25%.
Insulet’s stock has increased 23.1% in the past year. The company has an estimated earnings growth rate of 56.59% for the next year.
Insulet’s earnings beat estimates in three of the trailing four quarters and missed the same in one, the average surprise being 59.81%. In the last reported quarter, PODD delivered an earnings surprise of 129.17%.