Quest Diagnostics Incorporated (NYSE:DGX) Releases FY17 Earnings Guidance
Quest Diagnostics Incorporated (NYSE:DGX) updated its FY17 earnings guidance on Tuesday. The company provided EPS guidance of $5.62-5.72 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.57. The company issued revenue guidance of $7.69-7.74 billion, compared to the consensus revenue estimate of $7.69 billion.
A number of research firms have commented on DGX. BidaskClub upgraded shares of Quest Diagnostics from a buy rating to a strong-buy rating in a research note on Thursday, June 29th. UBS AG raised their price target on shares of Quest Diagnostics from $115.00 to $123.00 and gave the stock a buy rating in a research report on Thursday, July 6th. Mizuho raised their price target on shares of Quest Diagnostics from $115.00 to $122.00 and gave the stock a buy rating in a research report on Monday, June 5th. ValuEngine upgraded shares of Quest Diagnostics from a hold rating to a buy rating in a research report on Friday, June 2nd. Finally, Barclays PLC restated a hold rating and issued a $110.00 price target on shares of Quest Diagnostics in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $109.62.
Quest Diagnostics Incorporated (NYSE:DGX) traded down 0.47% during trading on Friday, reaching $104.87. 779,220 shares of the company’s stock traded hands. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 21.13 and a beta of 0.69. The firm’s 50 day moving average is $108.23 and its 200-day moving average is $103.54. Quest Diagnostics Incorporated has a 12 month low of $79.12 and a 12 month high of $112.97.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 25th. The medical research company reported $1.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.13. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a net margin of 9.28% and a return on equity of 15.66%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. Analysts expect that Quest Diagnostics Incorporated will post $5.69 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, October 2nd. This represents a $1.80 annualized dividend and a yield of 1.72%. Quest Diagnostics’s dividend payout ratio (DPR) is 36.29%.
In related news, SVP Catherine T. Doherty sold 59,762 shares of the company’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $107.55, for a total transaction of $6,427,403.10. Following the transaction, the senior vice president now owns 78,582 shares in the company, valued at approximately $8,451,494.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey M. Leiden sold 1,304 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $108.73, for a total value of $141,783.92. Following the sale, the director now directly owns 6,296 shares of the company’s stock, valued at $684,564.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,362 shares of company stock worth $6,600,758. 1.50% of the stock is owned by corporate insiders.
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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 Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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