Equities analysts predict that Quest Diagnostics Inc (NYSE:DGX) will post $1.94 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Quest Diagnostics’ earnings, with estimates ranging from $1.92 billion to $1.97 billion. Quest Diagnostics posted sales of $1.92 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1%. The firm is scheduled to announce its next earnings results on Tuesday, July 23rd.
On average, analysts expect that Quest Diagnostics will report full-year sales of $7.69 billion for the current year, with estimates ranging from $7.67 billion to $7.75 billion. For the next year, analysts forecast that the firm will report sales of $7.91 billion, with estimates ranging from $7.83 billion to $8.00 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.04. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.87 billion. Quest Diagnostics had a net margin of 9.59% and a return on equity of 14.99%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $152.00 earnings per share.
A number of research analysts have weighed in on DGX shares. ValuEngine downgraded shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Argus downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Piper Jaffray Companies reduced their price target on shares of Quest Diagnostics from $110.00 to $100.00 and set a “neutral” rating for the company in a research report on Thursday, February 14th. Finally, Barclays restated a “buy” rating and set a $114.00 price target on shares of Quest Diagnostics in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $102.65.
In related news, SVP Everett Cunningham sold 1,496 shares of the company’s stock in a transaction dated Wednesday, February 27th. The shares were sold at an average price of $86.64, for a total transaction of $129,613.44. Following the completion of the sale, the senior vice president now owns 39,755 shares of the company’s stock, valued at approximately $3,444,373.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael E. Prevoznik sold 336 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $88.23, for a total transaction of $29,645.28. Following the completion of the sale, the senior vice president now directly owns 42,108 shares of the company’s stock, valued at approximately $3,715,188.84. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,680 shares of company stock valued at $11,752,519. 1.86% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Quest Diagnostics by 1.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 347,783 shares of the medical research company’s stock worth $37,529,000 after acquiring an additional 5,129 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Quest Diagnostics by 10.0% in the 3rd quarter. Legal & General Group Plc now owns 848,847 shares of the medical research company’s stock worth $91,583,000 after acquiring an additional 77,204 shares during the last quarter. Vanguard Group Inc lifted its holdings in shares of Quest Diagnostics by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 14,500,290 shares of the medical research company’s stock worth $1,564,725,000 after acquiring an additional 201,951 shares during the last quarter. Legacy Financial Advisors Inc. acquired a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $45,000. Finally, Oakbrook Investments LLC acquired a new position in shares of Quest Diagnostics in the 4th quarter worth approximately $1,158,000. 93.31% of the stock is owned by institutional investors and hedge funds.
Shares of Quest Diagnostics stock traded up $0.40 during trading hours on Friday, reaching $98.04. The stock had a trading volume of 866,325 shares, compared to its average volume of 1,271,844. The company has a market cap of $13.17 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 2.25 and a beta of 0.92. Quest Diagnostics has a twelve month low of $78.95 and a twelve month high of $116.49. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 0.78.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Monday, July 8th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.12 annualized dividend and a yield of 2.16%. Quest Diagnostics’s dividend payout ratio is presently 33.60%.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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