Analysts Set Expectations for Quest Diagnostics Incorporated’s Q3 2024 Earnings (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) – Leerink Partnrs decreased their Q3 2024 earnings per share estimates for Quest Diagnostics in a report released on Tuesday, April 23rd. Leerink Partnrs analyst M. Cherny now forecasts that the medical research company will post earnings of $2.18 per share for the quarter, down from their prior forecast of $2.35. Leerink Partnrs currently has a “Market Perform” rating on the stock. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.75 per share. Leerink Partnrs also issued estimates for Quest Diagnostics’ FY2024 earnings at $8.37 EPS, FY2026 earnings at $10.05 EPS, FY2027 earnings at $10.98 EPS and FY2028 earnings at $11.97 EPS.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the company earned $2.04 earnings per share. The company’s quarterly revenue was up 1.7% compared to the same quarter last year.

A number of other research analysts have also commented on the company. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup upped their target price on Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday. SVB Leerink initiated coverage on Quest Diagnostics in a research note on Monday, February 26th. They issued a “market perform” rating and a $135.00 target price for the company. Truist Financial upped their target price on Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research note on Wednesday, February 7th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $146.17.

Quest Diagnostics Stock Down 1.5 %

Shares of DGX stock opened at $135.47 on Thursday. The stock has a 50 day moving average of $128.89 and a 200-day moving average of $131.11. The company has a quick ratio of 1.20, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a market cap of $15.04 billion, a PE ratio of 18.09, a price-to-earnings-growth ratio of 2.95 and a beta of 0.91. Quest Diagnostics has a 12 month low of $119.59 and a 12 month high of $147.96.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.21%. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, April 5th. Quest Diagnostics’s dividend payout ratio is 37.92%.

Insider Buying and Selling at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 821 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the sale, the senior vice president now directly owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Catherine T. Doherty sold 821 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were 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 owns 70,800 shares of the company’s stock, valued at $8,930,712. The disclosure for this sale can be found here. Insiders have sold 15,150 shares of company stock worth $1,913,202 over the last three months. Company insiders own 0.79% of the company’s stock.

Institutional Trading of Quest Diagnostics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Czech National Bank increased its position in Quest Diagnostics by 0.4% in the fourth quarter. Czech National Bank now owns 19,692 shares of the medical research company’s stock worth $2,715,000 after purchasing an additional 75 shares during the period. Mendota Financial Group LLC increased its position in Quest Diagnostics by 6.2% in the fourth quarter. Mendota Financial Group LLC now owns 1,296 shares of the medical research company’s stock worth $179,000 after purchasing an additional 76 shares during the period. Exchange Traded Concepts LLC increased its position in Quest Diagnostics by 1.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,417 shares of the medical research company’s stock worth $538,000 after purchasing an additional 84 shares during the period. Montecito Bank & Trust increased its position in Quest Diagnostics by 4.7% in the fourth quarter. Montecito Bank & Trust now owns 1,909 shares of the medical research company’s stock worth $263,000 after purchasing an additional 85 shares during the period. Finally, Naples Global Advisors LLC increased its position in Quest Diagnostics by 1.5% in the fourth quarter. Naples Global Advisors LLC now owns 6,171 shares of the medical research company’s stock worth $851,000 after purchasing an additional 90 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.