Quest Diagnostics (NYSE:DGX) Updates FY24 Earnings Guidance

Quest Diagnostics (NYSE:DGX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $8.72-$8.97 for the period, compared to the consensus earnings per share estimate of $8.75. The company issued revenue guidance of $9.40-$9.48 billion, compared to the consensus revenue estimate of $9.40 billion. Quest Diagnostics also updated its FY 2024 guidance to 8.720-8.970 EPS.

Analyst Ratings Changes

A number of research firms have weighed in on DGX. StockNews.com raised shares of Quest Diagnostics from a hold rating to a buy rating in a research report on Thursday. Citigroup raised their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the stock a neutral rating in a research report on Wednesday. UBS Group raised their price objective on shares of Quest Diagnostics from $139.00 to $146.00 and gave the stock a neutral rating in a research report on Wednesday. Barclays raised their price objective on shares of Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a research report on Thursday. Finally, Jefferies Financial Group raised shares of Quest Diagnostics from a hold rating to a buy rating and raised their price objective for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. Nine analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus price target of $146.17.

Quest Diagnostics Trading Down 1.5 %

NYSE DGX opened at $135.42 on Friday. The stock has a market capitalization of $15.04 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.97 and a beta of 0.91. Quest Diagnostics has a one year low of $119.59 and a one year high of $147.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.97 and a quick ratio of 1.20. The business’s fifty day moving average is $128.89 and its 200-day moving average is $131.11.

Quest Diagnostics (NYSE:DGX) last released its 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. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.04 EPS. Equities research analysts predict that Quest Diagnostics will post 8.74 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a $0.75 dividend. The ex-dividend date was Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.22%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s dividend payout ratio (DPR) is 38.22%.

Insider Buying and Selling

In related news, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction dated 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 owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Vicky B. Gregg sold 2,500 shares of Quest Diagnostics stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the sale, the director now owns 16,329 shares of the company’s stock, valued at approximately $2,067,904.56. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the transaction, the senior vice president now directly owns 40,206 shares of the company’s stock, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,150 shares of company stock valued at $1,913,202. 0.79% of the stock is owned by insiders.

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.