Quest Diagnostics (DGX) Set to Announce Earnings on Tuesday

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

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.11 by $0.04. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations 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 previous year, the company posted $1.98 EPS. 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 $128.44 on Monday. 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 stock has a market capitalization of $14.26 billion, a P/E ratio of 17.15, a P/E/G ratio of 2.77 and a beta of 0.91. The company’s fifty day moving average is $128.32 and its two-hundred day moving average is $130.90. 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. Shareholders of record on Monday, April 8th will be paid a $0.75 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, April 5th. Quest Diagnostics’s payout ratio is currently 37.92%.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 661 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 completion of the sale, the senior vice president now owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Insiders sold a total of 15,150 shares of company stock valued at $1,913,202 in the last 90 days. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Quest Diagnostics

Several large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC grew its position in Quest Diagnostics by 1.6% in the fourth quarter. Apollon Wealth Management LLC now owns 4,814 shares of the medical research company’s stock valued at $753,000 after acquiring an additional 78 shares in the last quarter. Empire Financial Management Company LLC grew its position in Quest Diagnostics by 1.9% in the fourth quarter. Empire Financial Management Company LLC now owns 4,677 shares of the medical research company’s stock valued at $645,000 after acquiring an additional 87 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in Quest Diagnostics by 2.7% in the first quarter. Johnson Investment Counsel Inc. now owns 4,432 shares of the medical research company’s stock valued at $627,000 after acquiring an additional 115 shares in the last quarter. Wahed Invest LLC grew its position in Quest Diagnostics by 10.7% in the second quarter. Wahed Invest LLC now owns 1,598 shares of the medical research company’s stock valued at $225,000 after acquiring an additional 155 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in Quest Diagnostics by 4.2% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,179 shares of the medical research company’s stock valued at $513,000 after acquiring an additional 169 shares in the last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Analyst Upgrades and Downgrades

DGX has been the topic of several recent research reports. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Barclays began coverage on shares of Quest Diagnostics in a research note on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 price target on the stock. SVB Leerink began coverage on shares of Quest Diagnostics in a research note on Monday, February 26th. They set a “market perform” rating and a $135.00 price target on the stock. TheStreet cut shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research note on Monday, February 5th. Finally, StockNews.com cut shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.18.

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.