Quest Diagnostics Incorporated (NYSE:DGX) Expected to Post Q4 2024 Earnings of $2.18 Per Share

Quest Diagnostics Incorporated (NYSE:DGX) – Analysts at William Blair lowered their Q4 2024 earnings estimates for Quest Diagnostics in a note issued to investors on Tuesday, April 23rd. William Blair analyst A. Brackmann now forecasts that the medical research company will earn $2.18 per share for the quarter, down from their prior forecast of $2.30. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.74 per share. William Blair also issued estimates for Quest Diagnostics’ Q1 2025 earnings at $2.30 EPS, Q2 2025 earnings at $2.47 EPS, Q3 2025 earnings at $2.44 EPS and Q4 2025 earnings at $2.35 EPS.

DGX has been the subject of a number of other reports. UBS Group boosted their target price on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a report on Wednesday. Jefferies Financial Group upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Citigroup upped their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Wednesday. Mizuho upped their price objective on shares of Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus price target of $146.17.

Quest Diagnostics Stock Performance

Shares of Quest Diagnostics stock opened at $134.26 on Thursday. The company has a market capitalization of $14.91 billion, a PE ratio of 18.07, a P/E/G ratio of 2.97 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.20 and a current ratio of 0.97. The company has a 50-day simple moving average of $129.09 and a two-hundred day simple moving average of $131.17. Quest Diagnostics has a one year low of $119.59 and a one year high of $146.85.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.04 earnings per share.

Institutional Investors Weigh In On Quest Diagnostics

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates boosted its position in Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after purchasing an additional 75,315 shares in the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in Quest Diagnostics in the 4th quarter worth approximately $1,483,000. Wellington Management Group LLP boosted its position in Quest Diagnostics by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after purchasing an additional 333,947 shares in the last quarter. Pacer Advisors Inc. boosted its position in Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after purchasing an additional 21,327 shares in the last quarter. Finally, Strs Ohio boosted its position in Quest Diagnostics by 7.6% in the 4th quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock worth $2,243,000 after purchasing an additional 1,150 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The sale was disclosed in a filing with the SEC, which is available through this link. In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,150 shares of company stock worth $1,913,202. 0.79% of the stock is owned by company insiders.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, April 5th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is 38.22%.

About Quest Diagnostics

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.