Q2 2024 EPS Estimates for Quest Diagnostics Incorporated Reduced by Leerink Partnrs (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) – Investment analysts at Leerink Partnrs dropped their Q2 2024 earnings per share estimates for Quest Diagnostics in a research note issued to investors on Tuesday, April 23rd. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will earn $2.23 per share for the quarter, down from their previous forecast of $2.29. Leerink Partnrs has a “Market Perform” rating on the stock. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.74 per share. Leerink Partnrs also issued estimates for Quest Diagnostics’ Q4 2024 earnings at $1.92 EPS and FY2025 earnings at $9.31 EPS.

DGX has been the subject of several other research reports. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Thursday. Citigroup boosted their price objective on Quest Diagnostics from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Mizuho upped their target price on Quest Diagnostics from $150.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $146.17.

Quest Diagnostics Stock Performance

Shares of DGX stock opened at $134.26 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.20 and a current ratio of 0.97. Quest Diagnostics has a fifty-two week low of $119.59 and a fifty-two week high of $146.85. The stock has a 50 day moving average price of $129.09 and a two-hundred day moving average price of $131.17. The company has a market capitalization of $14.91 billion, a P/E ratio of 18.07, a PEG ratio of 2.97 and a beta of 0.91.

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

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.23%. 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 presently 38.22%.

Insider Buying and Selling

In related news, EVP Catherine T. Doherty sold 821 shares of the company’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 sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at $8,930,712. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the sale, the director now directly owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Catherine T. Doherty sold 821 shares of the company’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 disclosure for this sale can be found here. Insiders have sold a total of 15,150 shares of company stock valued at $1,913,202 over the last ninety days. Company insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Czech National Bank grew its stake in shares of 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 acquiring an additional 75 shares during the last quarter. Mendota Financial Group LLC grew its stake in shares of 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 acquiring an additional 76 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of 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 acquiring an additional 84 shares during the last quarter. Montecito Bank & Trust grew its stake in shares of 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 acquiring an additional 85 shares during the last quarter. Finally, Naples Global Advisors LLC grew its stake in shares of 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 acquiring an additional 90 shares during the last quarter. 88.06% of the stock is owned by hedge funds and other institutional investors.

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.