Quest Diagnostics Should Shake Off Last of the COVID-19 Disruption in 2024

Quest Diagnostics is a leading provider of independent diagnostic testing in the United States thanks to its network of roughly 2,300 patient service centers across the country. We think the company's size and cost advantage allow Quest to benefit from several secular trends, including the proliferation of diagnostic tests and greater clinical reliance on personalized therapies. Additionally, we expect that Quest will see a reprieve from Medicare-related pricing pressure as regulators tinker with the method for setting lab test reimbursement rates.