Universal DX (“UDX”) has recently announced a groundbreaking partnership with Quest Diagnostics, a renowned leader in the field of healthcare diagnostics. The aim of this strategic collaboration is to introduce an innovative blood test called Signal-C® for colorectal cancer screening to patients and healthcare providers across the United States. This collaboration is expected to revolutionize colorectal cancer screening in the country, with Quest Diagnostics taking the lead in performing and providing clinical laboratory services based on UDX’s Signal-C® test, once it receives premarket approval from the U.S. Food and Drug Administration (FDA).
To ensure the successful submission for FDA premarket approval, UDX has laid out an ambitious plan. They will be enrolling a staggering 15,000 patients in a comprehensive study that will involve over 100 investigator sites. The primary objective of this study is to generate robust clinical evidence that supports the efficacy and accuracy of the Signal-C® test. As part of this endeavor, Quest’s esteemed oncology center of excellence in Lewisville, TX, has been selected as the sole site to conduct the necessary testing for the study. Assuming the Signal-C® test receives FDA approval, Quest Diagnostics will gain exclusive rights to provide clinical laboratory services for this groundbreaking test throughout the United States.
The Signal-C® test has already displayed remarkable potential in its ability to detect colorectal cancer with an impressive sensitivity rate of 93% and a specificity rate of 92%. Furthermore, UDX’s Signal-C® test has demonstrated a sensitivity rate of 92% and a specificity rate of 97% for detecting colorectal cancer, along with a sensitivity rate of 52% and a specificity rate of 90% for detecting advanced adenoma. These results are truly promising and provide hope for more accurate and efficient screening methods in the fight against colorectal cancer.
In addition to this exciting collaboration, UDX has successfully closed its series B financing round, securing a substantial investment of approximately $70 million from a group of investors, including Quest Diagnostics. This funding will significantly support UDX’s ongoing efforts to obtain FDA premarket approval for the Signal-C® test, further bolstering the early detection and screening of colorectal cancer throughout the United States.
Overall, this strategic collaboration between Universal DX and Quest Diagnostics marks a significant milestone in the advancement of colorectal cancer screening. With the introduction of the innovative Signal-C® test and the support of esteemed partners, the future looks bright for early detection and improved outcomes in the battle against colorectal cancer in the United States.
Quest Diagnostics Incorporated
DGX
Strong Buy
Updated on: 27/11/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
DGX Stock Performance Shows Slight Increase in Health Services Sector on November 20, 2023
On November 20, 2023, the stock performance of DGX, or Laboratory Corporation of America Holdings, showed a slight increase compared to the previous day’s closing price. The stock opened at $135.18 and had a day’s range between $134.00 and $135.22. The trading volume for the day was 197,014 shares, which is significantly lower than the average volume of 874,104 shares over the past three months. DGX has a market capitalization of $15.2 billion.
Looking at the company’s financials, DGX has experienced a decline in earnings growth over the past year. The earnings growth rate for the previous year was -48.94%, and for this year, it stands at -12.61%. However, the earnings growth rate for the next five years is projected to be -1.00%. Similarly, the revenue growth rate for the previous year was -8.39%.
In terms of valuation, DGX has a P/E ratio of 20.1, indicating that investors are willing to pay 20.1 times the company’s earnings per share. The price/sales ratio is 1.87, while the price/book ratio is 2.54. These ratios suggest that the stock is trading at a relatively reasonable valuation.
On November 20, 2023, DGX’s stock price showed a small increase of $0.08, or 0.04%. This performance was in line with the overall positive trend in the health services sector, with other companies like Natera Inc and Guardant Health Inc also experiencing gains. On the other hand, Neogenomics Inc saw a slight decline in its stock price.
DGX is expected to release its next earnings report on February 1, 2024. Analysts are forecasting an EPS (earnings per share) of $2.13 for the current quarter. In the previous year, DGX reported annual revenue of $9.9 billion and a profit of $942.0 million, resulting in a net profit margin of 9.53%.
DGX operates in the health services sector, specifically in services to the health industry. The company’s corporate headquarters is located in Secaucus, New Jersey.
In conclusion, on November 20, 2023, DGX’s stock performance showed a slight increase, in line with the positive trend in the health services sector. Despite experiencing a decline in earnings and revenue growth over the past year, the stock is trading at a reasonable valuation. Investors will be looking forward to the company’s upcoming earnings report on February 1, 2024, to gain further insights into DGX’s financial performance.
DGX Stock: Analysts Predict 3.70% Increase and Upcoming Earnings Report
DGX stock has a median target price of $140.00, with a high estimate of $165.00 and a low estimate of $130.00, according to data from CNN Money. The current consensus among 19 polled investment analysts is to hold stock in Quest Diagnostics Inc. The company reported earnings per share of $2.13 for the current quarter and sales of $2.2 billion. The next earnings report is scheduled for February 01. Overall, DGX stock is expected to see a 3.70% increase according to analysts’ estimates. Investors should keep an eye on the upcoming earnings report for further information.
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