Quest Diagnostics Incorporated
DGX
recently announced a more than $3-million commitment to the American Heart Association (AHA) to reduce health inequities in vulnerable communities while creating more diverse health care professionals.
Quest Diagnostics is also working with the AHA on a new initiative to provide evidence-based high blood pressure resources to Federally Qualified Health Centers (FQHC) that serve under-resourced communities severely impacted by the COVID-19 pandemic.
Quest Diagnostics’ recent support will help AHA boost innovative solutions like the Scholars programs, hypertension control and COVID-19 rapid response to support better health in the communities. This will put major focus on Quest Diagnostics’ prime-line and cutting-edge products in this niche.
Few Words on AHA
Since 2015, the AHA has partnered with community-based health centers nationwide to tackle gaps in care, support quality care coordination and improve patient outcomes. These health centers will continue to play a vital role in responding to the pandemic and providing access to care for communities affected by COVID-19.
More on the News
The Quest Diagnostics’ commitment will help and expand the AHA’s Historically Black Colleges and Universities (HBCU) Scholars program. Additionally, Quest Diagnostics’ support will allow the association to launch the inaugural class of its Hispanic Serving Institutions (HSI) Scholars Program.
Quest Diagnostics and the AHA will help launch the research and health care careers of more than 100 diverse students at nearly 30 HBCUs and HSIs over the next two years as part of a shared strategic focus on addressing disparities in health care.
Quest Diagnostics’ support will also increase the amount of cash award for scholars in the existing HBCU Scholars cohort from $2,500 to $7,000 and provide funding for 10 additional research stipends at five more HBCUs.
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Quest Diagnostics has also committed to supporting the AHA’s efforts to provide evidence-based hypertension resources and COVID-19 Rapid Response Funds in 10 targeted health centers, including five serving Native Americans in Milwaukee, Oklahoma City, Salt Lake City, San Diego and the Twin Cities (MN).
Notable Developments
In October 2021, Quest Diagnostics and the Boston Athletic Association collaborated to provide onsite COVID-19 diagnostic testing for the 125th Boston Marathon. The entrants in the 125th Boston Marathon will need to either provide proof of vaccination or produce a negative COVID-19 test no more than 72 hours in advance of the race to participate. Quest Diagnostics will be the sole testing provider for entrants, staff and volunteers.
In September 2021, Quest Diagnostics and Carnival Corporation announced a new initiative, making pre-board testing more convenient and accessible for its guests. The effort will facilitate access to pre-cruise COVID-19 viral testing for guests of Carnival Cruise Line, Holland America Line, Princess Cruises and Seabourn at more than 1,500 convenient Quest Diagnostics’ patient service centers and retail pharmacy testing locations throughout the United States.
Price Performance
Shares of the company have gained 21.2% in a year against the
industry
’s fall of 35.6%.
Zacks Rank and Other Key Picks
Currently, Quest Diagnostics carries a Zacks Rank #2 (Buy).
A few other similar-ranked stocks from the broader medical space are
Alcon Inc
ALC
,
West Pharmaceutical Services, Inc.
WST
and
Biolase, Inc.
BIOL
, each carrying a Zacks Rank #2. You can see
the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term earnings growth rate of 18%.
West Pharmaceutical Services has an estimated long-term earnings growth rate of 27%.
Biolase has a projected long-term earnings growth rate of 15%.
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