Quest Diagnostics (DGX) Scheduled to Post Earnings on Tuesday

Quest Diagnostics (NYSE:DGX) 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 interested in registering for the company’s earnings conference call can do so using this link.

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 the consensus estimate of $2.11 by $0.04. The business 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% on a year-over-year basis. During the same period in the prior year, the business 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 Stock Performance

Shares of DGX opened at $128.64 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. The company has a market capitalization of $14.29 billion, a price-to-earnings ratio of 17.17, a PEG ratio of 2.77 and a beta of 0.91. The company’s 50 day simple moving average is $128.28 and its 200 day simple moving average is $130.74. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $148.62.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 22nd. Investors of record on Monday, April 8th will be paid a dividend of $0.75 per share. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 annualized dividend and a dividend yield of 2.33%. Quest Diagnostics’s dividend payout ratio is presently 37.92%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on DGX shares. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, April 9th. Truist Financial restated a “hold” rating and set a $145.00 price target on shares of Quest Diagnostics in a research report on Wednesday, March 20th. SVB Leerink started coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 price objective on the stock. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Finally, TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Quest Diagnostics has a consensus rating of “Hold” and an average target price of $144.18.

Insider Buying and Selling

In related 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 value of $706,312.68. Following the completion of the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction on 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 owns 38,478 shares in the company, valued at $4,843,610.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,150 shares of company stock worth $1,913,202. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the business. Chilton Capital Management LLC bought a new stake in Quest Diagnostics during the 1st quarter valued at about $28,000. Parkside Financial Bank & Trust boosted its holdings in shares of Quest Diagnostics by 136.2% in the 1st quarter. Parkside Financial Bank & Trust now owns 411 shares of the medical research company’s stock valued at $56,000 after acquiring an additional 237 shares during the last quarter. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at $64,000. Compass Wealth Management LLC purchased a new stake in shares of Quest Diagnostics in the 4th quarter valued at $67,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at $86,000. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.