Quest Diagnostics (NYSE:DGX) Issues Quarterly Earnings Results

Quest Diagnostics (NYSE:DGX) issued its quarterly earnings results on Tuesday. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.04, Briefing.com reports. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the company posted $2.22 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Quest Diagnostics updated its FY 2024 guidance to 8.850-8.950 EPS and its FY24 guidance to $8.85-$8.95 EPS.

Quest Diagnostics Trading Up 0.6 %

NYSE DGX opened at $158.00 on Friday. Quest Diagnostics has a fifty-two week low of $121.60 and a fifty-two week high of $160.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The stock has a 50 day simple moving average of $153.05 and a two-hundred day simple moving average of $144.57. The stock has a market cap of $17.55 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend was Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is currently 40.38%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DGX. Evercore ISI began coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Truist Financial lifted their price target on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research note on Monday, October 7th. Mizuho lifted their price target on Quest Diagnostics from $160.00 to $174.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Sandler increased their target price on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, Barclays increased their target price on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Quest Diagnostics has an average rating of “Hold” and a consensus price target of $163.33.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.79% of the company’s stock.

Quest Diagnostics Company Profile

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.