FY2024 EPS Estimates for Quest Diagnostics Incorporated (NYSE:DGX) Raised by Analyst

Quest Diagnostics Incorporated (NYSE:DGX) – Analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for Quest Diagnostics in a research report issued to clients and investors on Tuesday, July 23rd. Leerink Partnrs analyst M. Cherny now forecasts that the medical research company will post earnings per share of $8.92 for the year, up from their previous forecast of $8.88. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.87 per share. Leerink Partnrs also issued estimates for Quest Diagnostics’ Q4 2024 earnings at $2.23 EPS.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.49% and a net margin of 8.99%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the company posted $2.30 earnings per share. The firm’s revenue was up 2.5% compared to the same quarter last year.

A number of other analysts have also issued reports on DGX. Barclays lifted their target price on Quest Diagnostics from $138.00 to $144.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. Citigroup upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $165.00 in a research note on Wednesday, July 10th. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their price target on Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Mizuho lifted their price target on Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $149.38.

Quest Diagnostics Stock Up 2.1 %

Shares of NYSE DGX opened at $143.91 on Thursday. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $150.59. The firm has a market cap of $15.99 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 3.00 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.89 and a current ratio of 0.97. The stock’s 50-day simple moving average is $141.06 and its 200-day simple moving average is $134.39.

Quest Diagnostics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 8th were paid a $0.75 dividend. The ex-dividend date was Monday, July 8th. This represents a $3.00 dividend on an annualized basis and a yield of 2.08%. Quest Diagnostics’s payout ratio is currently 40.38%.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,760 shares of Quest Diagnostics stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the transaction, the senior vice president now directly owns 13,435 shares in the company, valued at $1,880,900. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.79% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Quest Diagnostics

Hedge funds have recently made changes to their positions in the business. Altshuler Shaham Ltd bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $26,000. Spartan Planning & Wealth Management bought a new stake in shares of Quest Diagnostics during the fourth quarter valued at approximately $31,000. Alaska Permanent Fund Corp raised its holdings in shares of Quest Diagnostics by 79.3% during the fourth quarter. Alaska Permanent Fund Corp now owns 242 shares of the medical research company’s stock valued at $33,000 after buying an additional 107 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Quest Diagnostics during the first quarter valued at approximately $33,000. Finally, TruNorth Capital Management LLC bought a new stake in shares of Quest Diagnostics during the second quarter valued at approximately $33,000. Institutional investors own 88.06% of the company’s stock.

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.