Quest Diagnostics (DGX) Scheduled to Post Earnings on Tuesday

Quest Diagnostics (NYSE:DGX) is scheduled to be posting its quarterly earnings results 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.Individual that wish to register for the company’s earnings conference call can do so using this link.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Thursday, February 1st. The medical research company reported $2.15 earnings per share (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 firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted $1.98 earnings per share. 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 NYSE:DGX opened at $128.64 on Tuesday. The company’s 50 day simple moving average is $128.28 and its 200 day simple moving average is $130.74. The stock has a market capitalization of $14.29 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.31 and a quick ratio of 1.20. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $148.62.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Shareholders of record on Monday, April 8th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Friday, April 5th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is presently 37.92%.

Insider Buying and Selling

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total value of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Catherine T. Doherty sold 821 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $103,560.94. Following the completion of the sale, the executive vice president now directly owns 70,800 shares in the company, valued at $8,930,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at $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 over the last 90 days. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of hedge funds have recently added to or reduced their stakes in DGX. Apollon Wealth Management LLC lifted its holdings in shares of 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 buying an additional 78 shares during the period. Empire Financial Management Company LLC lifted its holdings in shares of Quest Diagnostics by 1.9% during 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 purchasing an additional 87 shares during the last quarter. Johnson Investment Counsel Inc. lifted its holdings in shares of Quest Diagnostics by 2.7% during the first quarter. Johnson Investment Counsel Inc. now owns 4,432 shares of the medical research company’s stock valued at $627,000 after purchasing an additional 115 shares during the last quarter. Wahed Invest LLC lifted its holdings in shares of Quest Diagnostics by 10.7% during the second quarter. Wahed Invest LLC now owns 1,598 shares of the medical research company’s stock valued at $225,000 after purchasing an additional 155 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Quest Diagnostics by 4.2% during 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 purchasing an additional 169 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on DGX shares. StockNews.com upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Tuesday, April 9th. Truist Financial reaffirmed a “hold” rating and set a $145.00 price target on shares of Quest Diagnostics in a report on Wednesday, March 20th. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Finally, Barclays began coverage on shares of Quest Diagnostics in a report on Wednesday, January 3rd. They issued an “equal weight” rating and a $145.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $144.18.

About Quest Diagnostics

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.