Q3 2024 EPS Estimates for Quest Diagnostics Incorporated (NYSE:DGX) Boosted by Zacks Research

Quest Diagnostics Incorporated (NYSE:DGX) – Equities research analysts at Zacks Research increased their Q3 2024 EPS estimates for Quest Diagnostics in a note issued to investors on Tuesday, April 9th. Zacks Research analyst M. Mondal now anticipates that the medical research company will post earnings per share of $2.30 for the quarter, up from their previous estimate of $2.29. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.75 per share. Zacks Research also issued estimates for Quest Diagnostics’ FY2026 earnings at $10.05 EPS.

A number of other research analysts have also recently issued reports on DGX. 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. SVB Leerink began coverage on Quest Diagnostics in a research report on Monday, February 26th. They issued a “market perform” rating and a $135.00 price objective for the company. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Barclays started coverage on Quest Diagnostics in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target for the company. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research note on Wednesday, February 7th. Nine equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $144.18.

Quest Diagnostics Stock Down 0.9 %

Shares of NYSE:DGX opened at $131.61 on Wednesday. The company’s fifty day moving average is $127.99 and its 200-day moving average is $130.57. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. Quest Diagnostics has a 52 week low of $119.59 and a 52 week high of $148.62. The company has a market capitalization of $14.62 billion, a PE ratio of 17.57, a P/E/G ratio of 2.81 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The company 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 company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.98 earnings per share.

Institutional Trading of Quest Diagnostics

Several large investors have recently modified their holdings of DGX. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Quest Diagnostics during the third quarter worth about $493,000. Raymond James & Associates grew its stake in Quest Diagnostics by 103.3% in the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock valued at $20,441,000 after acquiring an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in Quest Diagnostics in the fourth quarter valued at approximately $1,483,000. Wellington Management Group LLP boosted its position in shares of Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after buying an additional 333,947 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in shares of Quest Diagnostics by 201.5% during the fourth quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock valued at $4,400,000 after buying an additional 21,327 shares during the last quarter. 88.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Quest Diagnostics

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 661 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction 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 directly owns 16,329 shares in the company, valued at $2,067,904.56. 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. Company insiders own 0.66% of the company’s stock.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio is 37.92%.

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.