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

Quest Diagnostics Incorporated (NYSE:DGX) – Investment analysts at Leerink Partnrs lowered their Q2 2024 EPS estimates for shares of Quest Diagnostics in a research note issued on Tuesday, April 23rd. Leerink Partnrs analyst M. Cherny now anticipates that the medical research company will post earnings per share of $2.23 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.

Quest Diagnostics (NYSE:DGX) last released 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 net margin of 9.11% and a return on equity of 15.52%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the firm earned $2.04 EPS. Quest Diagnostics’s revenue was up 1.7% on a year-over-year basis.

Other equities analysts have also recently issued research reports about the stock. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday. Citigroup lifted their target price on shares of Quest Diagnostics from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday. Truist Financial lifted their target price on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday. TheStreet downgraded shares of Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. Finally, Mizuho lifted their target price on shares of Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Quest Diagnostics presently has a consensus rating of “Hold” and an average target price of $146.17.

Quest Diagnostics Stock Down 1.5 %

DGX stock opened at $135.47 on Friday. Quest Diagnostics has a 52 week low of $119.59 and a 52 week high of $147.96. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The firm’s 50-day moving average is $128.89 and its two-hundred day moving average is $131.11. The company has a current ratio of 0.97, a quick ratio of 1.20 and a debt-to-equity ratio of 0.59.

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 given a dividend of $0.75 per share. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.21%. Quest Diagnostics’s dividend payout ratio is currently 38.22%.

Insider Transactions at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 2,500 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the transaction, the director now owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Vicky B. Gregg sold 2,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,329 shares of the company’s stock, valued at $2,067,904.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael E. Prevoznik sold 5,611 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at approximately $4,843,610.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,150 shares of company stock valued at $1,913,202. 0.79% of the stock is currently owned by insiders.

Institutional Trading of Quest Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DGX. NBC Securities Inc. acquired a new stake in Quest Diagnostics during the 3rd quarter valued at approximately $25,000. Altshuler Shaham Ltd acquired a new stake in Quest Diagnostics during the 4th quarter valued at approximately $26,000. VisionPoint Advisory Group LLC increased its position in Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock valued at $27,000 after purchasing an additional 109 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $29,000. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

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.