As the pandemic grinds on, companies that make diagnostic tests for SARS-CoV-2 are working overtime to meet immense demand and invent superior products. Though there are several different types of coronavirus tests, and a handful of different business models that operate in the wider medical diagnostics space, there’s no single profile that describes a successful manufacturer of coronavirus assays.
Let’s take a look at three investment-ready testing companies that have flourished since the start of the pandemic.
The venerable Quest Diagnostics (NYSE:DGX) manufactures and develops swab tests for active coronavirus infections, blood-based antibody assays, and a cornucopia of other medical assays. As with several of its peers, the company’s stock has cooled from its highs in early August. But Quest has a large market share in testing that it doesn’t need to fight to maintain, and the stock’s recent retreat doesn’t change that. For