FY2022 EPS Estimates for Quest Diagnostics Incorporated Boosted by Analyst (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGXGet Rating) – Analysts at William Blair boosted their FY2022 earnings estimates for Quest Diagnostics in a research report issued to clients and investors on Friday, April 22nd. William Blair analyst M. Larew now expects that the medical research company will earn $9.34 per share for the year, up from their previous forecast of $9.02. William Blair also issued estimates for Quest Diagnostics’ Q2 2023 earnings at $2.18 EPS, Q4 2023 earnings at $2.14 EPS and FY2023 earnings at $8.75 EPS.

Quest Diagnostics (NYSE:DGXGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The medical research company reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.92 by $0.30. Quest Diagnostics had a net margin of 17.61% and a return on equity of 27.08%. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $3.76 EPS. The firm’s revenue for the quarter was down 4.0% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Saturday, April 16th. Deutsche Bank Aktiengesellschaft downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $190.00 to $129.00 in a research note on Friday, January 28th. Morgan Stanley decreased their target price on shares of Quest Diagnostics from $159.00 to $145.00 and set an “equal weight” rating for the company in a research report on Monday, February 14th. Citigroup downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and decreased their target price for the company from $175.00 to $140.00 in a research report on Monday, April 4th. Finally, Truist Financial cut their price objective on shares of Quest Diagnostics from $170.00 to $160.00 in a report on Wednesday, January 19th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $150.54.

Quest Diagnostics stock opened at $137.19 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.46 and a quick ratio of 1.44. Quest Diagnostics has a 1-year low of $125.77 and a 1-year high of $174.16. The firm has a market capitalization of $16.16 billion, a P/E ratio of 9.13 and a beta of 1.12. The company’s 50-day moving average is $136.98 and its 200 day moving average is $145.00.

A number of hedge funds have recently made changes to their positions in DGX. O Shaughnessy Asset Management LLC increased its stake in shares of Quest Diagnostics by 29,052.2% in the third quarter. O Shaughnessy Asset Management LLC now owns 118,358 shares of the medical research company’s stock worth $17,200,000 after buying an additional 117,952 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its holdings in Quest Diagnostics by 12.0% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,188 shares of the medical research company’s stock valued at $1,771,000 after acquiring an additional 1,304 shares during the last quarter. Kendall Capital Management raised its holdings in Quest Diagnostics by 44.3% during the 3rd quarter. Kendall Capital Management now owns 5,835 shares of the medical research company’s stock worth $848,000 after buying an additional 1,790 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Quest Diagnostics by 46.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 38,776 shares of the medical research company’s stock worth $6,709,000 after buying an additional 12,387 shares during the period. Finally, LSV Asset Management raised its holdings in Quest Diagnostics by 6.8% during the 3rd quarter. LSV Asset Management now owns 1,261,937 shares of the medical research company’s stock worth $183,372,000 after buying an additional 79,985 shares during the period. 86.45% of the stock is currently owned by hedge funds and other institutional investors.

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 6,228 shares of the firm’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $135.21, for a total transaction of $842,087.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Catherine T. Doherty sold 2,750 shares of the firm’s stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of $126.26, for a total transaction of $347,215.00. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 20th. Stockholders of record on Wednesday, April 6th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.62. Quest Diagnostics’s dividend payout ratio (DPR) is 17.58%.

Quest Diagnostics Company Profile (Get Rating)

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

Further Reading

Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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