Deck: Increases in denials from insurers, uncollectible patient balances, and reimbursement pressures negatively affected company revenues.
Mayo's diagnostic tests do not infringe upon Athena Diagnostics' patent because they use standard methods and involve "natural law," the court ruled.
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.
A deep analysis of data from drug tests performed at Quest over the past six years has helped the company identify which drug tests are needed by clinicians.
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.
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 mass spectrometry-based tests measure the level of five proteins in patient serum to assess cholesterol efflux capacity and risk of coronary artery disease.
The company attributed the lower revenue growth to lower volume growth in diagnostics, which is expected to continue for the rest of the year.