Zacks Research Research Analysts Increase Earnings Estimates for Quest Diagnostics Incorporated (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) – Investment analysts at Zacks Research raised their FY2024 earnings per share (EPS) estimates for shares of Quest Diagnostics in a research report issued on Monday, August 12th. Zacks Research analyst M. Mondal now anticipates that the medical research company will earn $8.83 per share for the year, up from their previous forecast of $8.82. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.89 per share. Zacks Research also issued estimates for Quest Diagnostics’ Q4 2024 earnings at $2.18 EPS, Q2 2025 earnings at $2.50 EPS and FY2025 earnings at $9.55 EPS.

Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the business earned $2.30 EPS. Quest Diagnostics’s revenue for the quarter was up 2.5% on a year-over-year basis.

DGX has been the topic of several other research reports. UBS Group boosted their price target on Quest Diagnostics from $139.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Mizuho increased their price target on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Robert W. Baird lifted their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Truist Financial boosted their target price on shares of Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $150.58.

Quest Diagnostics Price Performance

Shares of DGX opened at $149.63 on Wednesday. The firm has a market capitalization of $16.62 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91. The company’s fifty day moving average price is $142.82 and its 200-day moving average price is $135.84. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $152.00.

Quest Diagnostics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. Quest Diagnostics’s payout ratio is currently 40.38%.

Insider Activity

In related news, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the completion of the transaction, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd acquired a new stake in shares of Quest Diagnostics in the fourth quarter valued at about $26,000. Rothschild Investment LLC acquired a new stake in Quest Diagnostics in the 2nd quarter worth about $26,000. Spartan Planning & Wealth Management purchased a new stake in Quest Diagnostics during the 4th quarter worth approximately $31,000. Innealta Capital LLC acquired a new position in shares of Quest Diagnostics during the second quarter valued at approximately $31,000. Finally, Larson Financial Group LLC lifted its position in shares of Quest Diagnostics by 77.5% in the second quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 88.06% 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.