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For the three months ended Jan. 31, the firm's revenues rose to $1.36 billion from $1.28 billion, beating analysts' average estimate of $1.35 billion.

Diagnostics revenues for the fourth quarter were $1.76 billion, up 4 percent from $1.69 billion in the same quarter last year.

The firm reported that test volumes for its Cologuard colorectal cancer screening test rose 63 percent year over year.

The firm submitted its Verigene II Gastrointestinal Flex Assay to the FDA in Q4 and expects to submit Verigene II Respiratory Flex Assay to the agency in Q1 2020.

Qiagen's Q4 revenues of $413.5 million represented 4 percent growth at constant exchange rates and bested Wall Street's expectation of $405.6 million.

The company announced Monday that it has inked a contract to become the primary supplier of products for immunoassay testing to Quest Diagnostics.

While overall revenues and net income were up, analytical instruments revenues decreased 3 percent in Q4, and 2 percent organically.

Life Sciences revenues grew 7 percent year over year to $1.92 billion, while Diagnostics revenues were up rose also 7 percent to $1.80 billion.

Within diagnostics, the firm posted molecular diagnostics revenues of $178.5 million, up 9 percent from $164.3 million in fiscal Q1 2019.

Abbott said the increase in diagnostics revenue was driven by adoption of the company's Alinity family of diagnostic instruments.

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