Quest Diagnostics Inc. (DGX) Increases Dividend to $0.45 Per Share
Quest Diagnostics Inc. (NYSE:DGX) declared a quarterly dividend on Friday, November 11th. Shareholders of record on Tuesday, January 10th will be given a dividend of 0.45 per share on Wednesday, January 25th. This represents a $1.80 annualized dividend and a yield of 2.21%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.40.
Quest Diagnostics (NYSE:DGX) opened at 81.51 on Friday. Quest Diagnostics has a 52-week low of $59.66 and a 52-week high of $86.85. The firm has a market capitalization of $11.30 billion, a P/E ratio of 17.30 and a beta of 0.62. The firm’s 50-day moving average is $83.09 and its 200 day moving average is $81.35.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 20th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.02. Quest Diagnostics had a net margin of 9.01% and a return on equity of 14.57%. The firm earned $1.89 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. Equities analysts anticipate that Quest Diagnostics will post $5.10 EPS for the current year.
DGX has been the subject of several research analyst reports. Citigroup Inc. initiated coverage on shares of Quest Diagnostics in a report on Friday, September 9th. They issued a “neutral” rating and a $86.00 price target for the company. Jefferies Group boosted their price target on shares of Quest Diagnostics from $75.00 to $86.00 and gave the company a “hold” rating in a report on Friday, July 22nd. Mizuho lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $86.00 in a report on Wednesday, August 31st. Zacks Investment Research raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, September 21st. Finally, Canaccord Genuity set a $90.00 price target on shares of Quest Diagnostics and gave the company a “buy” rating in a report on Wednesday, September 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $82.65.
In other Quest Diagnostics news, Director Jenne K. Britell sold 4,000 shares of the business’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $84.76, for a total transaction of $339,040.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 1.50% of the company’s stock.
Several large investors have recently modified their holdings of DGX. American Century Companies Inc. boosted its stake in shares of Quest Diagnostics by 27.7% in the second quarter. American Century Companies Inc. now owns 4,717,816 shares of the company’s stock worth $384,077,000 after buying an additional 1,022,240 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Quest Diagnostics by 29.4% in the second quarter. BlackRock Inc. now owns 382,103 shares of the company’s stock worth $31,108,000 after buying an additional 86,920 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Quest Diagnostics by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,060,059 shares of the company’s stock worth $249,119,000 after buying an additional 132,250 shares during the last quarter. BlackRock Group LTD boosted its stake in shares of Quest Diagnostics by 4.7% in the second quarter. BlackRock Group LTD now owns 1,251,488 shares of the company’s stock worth $101,882,000 after buying an additional 56,294 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in shares of Quest Diagnostics by 3.9% in the second quarter. Freestone Capital Holdings LLC now owns 11,739 shares of the company’s stock worth $956,000 after buying an additional 442 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors.
About Quest Diagnostics
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Company’s Diagnostic Information Services business develops and delivers diagnostic testing information and services to patients, physicians, health plans, hospitals, accountable care organizations (ACOs), integrated delivery networks (IDNs), other commercial laboratories, employers and others.
Receive News & Stock Ratings for Quest Diagnostics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quest Diagnostics Inc. and related stocks with our FREE daily email newsletter.