Quest Diagnostics Inc (NYSE:DGX) – Research analysts at Gabelli issued their FY2022 earnings estimates for shares of Quest Diagnostics in a note issued to investors on Friday. Gabelli analyst S. Wojda expects that the medical research company will post earnings per share of $8.40 for the year.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.37 by $0.03. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Several other brokerages also recently weighed in on DGX. Canaccord Genuity reaffirmed a “buy” rating and set a $110.00 target price on shares of Quest Diagnostics in a research note on Tuesday, January 16th. Wells Fargo & Co initiated coverage on shares of Quest Diagnostics in a research note on Thursday, October 12th. They set a “market perform” rating and a $88.00 target price on the stock. Goldman Sachs Group downgraded shares of Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their target price for the stock from $121.00 to $113.00 in a research note on Tuesday, October 10th. KeyCorp reaffirmed a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. Finally, Credit Suisse Group initiated coverage on shares of Quest Diagnostics in a research note on Friday. They set a “neutral” rating and a $107.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $107.40.
Shares of Quest Diagnostics (NYSE:DGX) traded up $1.18 on Monday, reaching $101.28. 1,080,671 shares of the company traded hands, compared to its average volume of 981,300. Quest Diagnostics has a 1 year low of $90.10 and a 1 year high of $112.96. The stock has a market cap of $13,640.00, a P/E ratio of 18.13, a P/E/G ratio of 1.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.24.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 3rd. Quest Diagnostics’s dividend payout ratio (DPR) is 32.73%.
In related news, SVP Catherine T. Doherty sold 21,294 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the completion of the sale, the senior vice president now owns 90,709 shares in the company, valued at approximately $9,433,736. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Stephen H. Rusckowski sold 106,840 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $107.00, for a total transaction of $11,431,880.00. Following the sale, the chairman now owns 272,956 shares of the company’s stock, valued at approximately $29,206,292. The disclosure for this sale can be found here. Insiders sold a total of 192,014 shares of company stock worth $19,950,134 over the last ninety days. Insiders own 1.75% of the company’s stock.
Large investors have recently modified their holdings of the stock. Thrivent Financial For Lutherans lifted its stake in shares of Quest Diagnostics by 2.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,200 shares of the medical research company’s stock worth $578,000 after acquiring an additional 100 shares during the period. WFG Advisors LP lifted its stake in shares of Quest Diagnostics by 45.3% in the 2nd quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock worth $107,000 after acquiring an additional 301 shares during the period. Coldstream Capital Management Inc. lifted its stake in shares of Quest Diagnostics by 8.2% in the 2nd quarter. Coldstream Capital Management Inc. now owns 6,700 shares of the medical research company’s stock worth $745,000 after acquiring an additional 505 shares during the period. Conning Inc. lifted its stake in shares of Quest Diagnostics by 5.1% in the 4th quarter. Conning Inc. now owns 10,583 shares of the medical research company’s stock worth $1,042,000 after acquiring an additional 510 shares during the period. Finally, WINTON GROUP Ltd lifted its stake in shares of Quest Diagnostics by 1.3% in the 2nd quarter. WINTON GROUP Ltd now owns 38,710 shares of the medical research company’s stock worth $4,303,000 after acquiring an additional 513 shares during the period. Hedge funds and other institutional investors own 89.17% of the company’s stock.
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Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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