PAMA, divestitures, and weather were among the factors negatively affecting revenues in the company's diagnostic division.
UBS initiated coverage of Quest with a Neutral raing and a $90 price target on its shares. It gave LabCorp a Buy rating and a $169 price target.
LabCorp and TACHC will use data analytics and clinical decision support tools to improve the care of patients with chronic kidney disease and diabetes.
Abbott CEO Miles White is bullish on the firm's Alinity systems, while Quest and LabCorp see acquisitions as the likely result of further PAMA-related cuts.
Genfit's assay will be deployed through Covance's central laboratories to validate its use to better identify and characterize patients with the liver disease.
Smaller labs that serve large Medicare populations, such as skilled nursing facility labs, have cut services and expressed concerns about their survival.
A lack of attractive targets, high valuations, and a more attractive IPO market contributed to a 45 percent year-over-year decline in M&A.
The company attributed the lower revenue growth to lower volume growth in diagnostics, which is expected to continue for the rest of the year.
The new services geared toward wellness testing enable patients to order test kits without visiting their doctor.