Q2 2019 EPS Estimates for Quest Diagnostics Inc (DGX) Decreased by Jefferies Financial Group
Quest Diagnostics Inc (NYSE:DGX) – Analysts at Jefferies Financial Group cut their Q2 2019 earnings per share (EPS) estimates for shares of Quest Diagnostics in a research note issued on Wednesday, April 24th. Jefferies Financial Group analyst B. Tanquilut now expects that the medical research company will post earnings per share of $1.70 for the quarter, down from their previous forecast of $1.73. Jefferies Financial Group currently has a “Buy” rating and a $107.00 target price on the stock. Jefferies Financial Group also issued estimates for Quest Diagnostics’ Q4 2019 earnings at $1.67 EPS.
A number of other equities research analysts have also issued reports on DGX. Zacks Investment Research lowered Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. ValuEngine upgraded Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Bank of America lowered Quest Diagnostics from a “neutral” rating to an “underperform” rating in a research report on Thursday, January 3rd. UBS Group initiated coverage on Quest Diagnostics in a research report on Thursday, January 17th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Argus lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $103.17.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.87 billion. Quest Diagnostics had a return on equity of 14.99% and a net margin of 9.59%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $152.00 earnings per share.
Large investors have recently added to or reduced their stakes in the business. Legacy Financial Advisors Inc. acquired a new position in Quest Diagnostics during the fourth quarter worth $45,000. Benjamin F. Edwards & Company Inc. lifted its stake in Quest Diagnostics by 32.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock worth $45,000 after purchasing an additional 134 shares in the last quarter. Doyle Wealth Management acquired a new position in Quest Diagnostics during the fourth quarter worth $48,000. Spectrum Management Group Inc. acquired a new position in Quest Diagnostics during the fourth quarter worth $58,000. Finally, First Personal Financial Services lifted its stake in Quest Diagnostics by 57.1% during the first quarter. First Personal Financial Services now owns 655 shares of the medical research company’s stock worth $59,000 after purchasing an additional 238 shares in the last quarter. Institutional investors own 90.47% of the company’s stock.
In related news, SVP Catherine T. Doherty sold 66,382 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $90.59, for a total value of $6,013,545.38. Following the transaction, the senior vice president now directly owns 133,908 shares in the company, valued at $12,130,725.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 336 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $88.23, for a total value of $29,645.28. Following the completion of the transaction, the senior vice president now owns 42,108 shares in the company, valued at $3,715,188.84. The disclosure for this sale can be found here. Insiders sold 88,106 shares of company stock worth $7,935,229 over the last quarter. 1.86% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s dividend payout ratio is presently 33.60%.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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