Hedgeye CEO Keith McCullough is adding Quest Diagnostics (DGX) to the long side of Investing Ideas. Below is a brief note.
Getting damn dips to buy in this one have been few and far in between since the company reiterated our bull case earlier in September...
See Healthcare analyst Tom Tobin's Healthcare Pro research product for updated reasoning on why we still like covid testing via Quest Diagnostics (DGX) on the long side.
Here's an excerpt from their research:
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COVID-19 Testing (+ for DGX, and maybe BDX, ABT, QDEL too): BD Partners with Washington State in Back-to-School Testing Effort - BD Offers Digitally Read SARS-CoV-2 Rapid Antigen Test and Optional Turn-key Solution in 'Learn to Return' Program (PR). There are a few rapid antigen test options, and "Schools that choose to use the BD Veritor™ Plus system also have a full-service option where Premier Medical Group (PMG), a third-party testing company, plans and executes the school's testing program so teachers and administrators can focus on teaching, not testing. In this option, PMG will prepare a turn-key solution that includes testing protocol, administration of the tests to students and completion of all required results-reporting to individuals and schools, as well as local, state and federal health officials. This will be the only rapid (same day results) testing option with staffing support for Washington schools." |
Buyem on red so that you can sell some on green days!
KM
