Quest Diagnostics stock reaches all-time high at 186.38 USD

Quest Diagnostics stock has reached an all-time high of $186.38, marking a significant milestone for the $20.75 billion healthcare diagnostics company. According to InvestingPro analysis, the stock appears overvalued at current levels, though it maintains a GREAT overall financial health score. Over the past year, the stock has delivered an impressive 22.27% total return, with year-to-date gains reaching 24.19%. This upward trajectory reflects investor confidence and the company’s strong performance in the market, supported by a consistent 14-year track record of dividend increases and a current yield of 1.73%. The achievement of this all-time high underscores Quest Diagnostics’ robust position in the healthcare sector and its ability to navigate the challenges of the industry effectively. InvestingPro subscribers can access 8 additional key insights about Quest Diagnostics, including detailed valuation metrics and growth projections.

In other recent news, Quest Diagnostics announced the launch of a new pharmacogenomic laboratory test service aimed at helping healthcare providers understand patients’ genetic responses to medications. This service is designed to assist clinicians in selecting appropriate medications and dosages across multiple medical specialties. Additionally, Quest Diagnostics has formed a joint venture with Corewell Health to expand laboratory services across Michigan, creating the Diagnostic Lab of Michigan, LLC. This new entity will operate from a planned facility featuring advanced technologies for microbiology and molecular testing. Furthermore, the U.S. Food and Drug Administration granted Breakthrough Device Designation to Quest Diagnostics’ Haystack MRD test, which is used to identify minimal residual disease in stage II colorectal cancer patients. In analyst updates, Baird downgraded Quest Diagnostics from Outperform to Neutral, citing a balanced risk/reward profile and insufficient upside potential. Lastly, Quest Diagnostics is collaborating with Mass General Brigham on research to study liquid biopsy technology for guiding cancer treatment decisions, focusing on specific types of squamous cell carcinoma.

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