Quest Diagnostics (DGX) Scheduled to Post Quarterly Earnings on Tuesday

Quest Diagnostics (NYSE:DGXGet Free Report) is scheduled to be releasing its earnings data before the market opens on Tuesday, April 23rd. Analysts expect Quest Diagnostics to post earnings of $1.89 per share for the quarter. Quest Diagnostics has set its FY 2024 guidance at 8.600-8.900 EPS and its FY24 guidance at $8.60-8.90 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Quest Diagnostics (NYSE:DGXGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.25 billion. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.98 earnings per share. On average, analysts expect Quest Diagnostics to post $9 EPS for the current fiscal year and $9 EPS for the next fiscal year.

Quest Diagnostics Price Performance

Shares of DGX opened at $128.44 on Friday. The firm has a market capitalization of $14.26 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $148.62. The company’s fifty day moving average price is $128.32 and its 200-day moving average price is $130.84.

Quest Diagnostics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, April 5th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.34%. Quest Diagnostics’s payout ratio is 37.92%.

Insider Transactions at Quest Diagnostics

In other news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Catherine T. Doherty sold 821 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $103,560.94. Following the transaction, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at approximately $8,930,712. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the transaction, the senior vice president now directly owns 38,478 shares in the company, valued at $4,843,610.64. The disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock valued at $1,913,202 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DGX. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Quest Diagnostics by 8.7% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,921 shares of the medical research company’s stock valued at $947,000 after buying an additional 556 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Quest Diagnostics by 97.5% in the 1st quarter. Panagora Asset Management Inc. now owns 7,878 shares of the medical research company’s stock worth $1,078,000 after purchasing an additional 3,889 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Quest Diagnostics by 3.4% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,923 shares of the medical research company’s stock worth $2,179,000 after purchasing an additional 525 shares in the last quarter. Sei Investments Co. lifted its stake in Quest Diagnostics by 21.9% in the 1st quarter. Sei Investments Co. now owns 191,048 shares of the medical research company’s stock worth $26,165,000 after purchasing an additional 34,364 shares in the last quarter. Finally, Aviva PLC lifted its stake in Quest Diagnostics by 22.1% in the 1st quarter. Aviva PLC now owns 68,068 shares of the medical research company’s stock worth $9,316,000 after purchasing an additional 12,298 shares in the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial reaffirmed a “hold” rating and issued a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. StockNews.com downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Wednesday. SVB Leerink began coverage on Quest Diagnostics in a research report on Monday, February 26th. They set a “market perform” rating and a $135.00 price target on the stock. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Finally, Barclays began coverage on Quest Diagnostics in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target on the stock. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.18.

View Our Latest Stock Analysis on DGX

About Quest Diagnostics

(Get Free Report)

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Further Reading

Earnings History for Quest Diagnostics (NYSE:DGX)

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