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Although recovery from the pandemic caused a slowdown in its COVID-19 testing business in the first half of the year, the company has been seeing an uptick in testing lately with the rapid spread of the more contagious coronavirus Delta variant across the U.S. Consequently, its share price has soared 8% over the past month.
While a faster than expected recovery in DGX’s base business could normalize its operations, further growth may be challenging for the company, given the rising competition in the diagnostics market.
