Zacks Research Brokers Raise Earnings Estimates for Quest Diagnostics Incorporated (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX - Free Report) - Equities researchers at Zacks Research lifted their Q3 2024 EPS estimates for Quest Diagnostics in a research note issued to investors on Tuesday, April 9th. Zacks Research analyst M. Mondal now forecasts that the medical research company will post earnings per share of $2.30 for the quarter, up from their previous estimate of $2.29. The consensus estimate for Quest Diagnostics' current full-year earnings is $8.75 per share. Zacks Research also issued estimates for Quest Diagnostics' FY2026 earnings at $10.05 EPS.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.11 by $0.04. Quest Diagnostics had a net margin of 9.23% and a return on equity of 15.79%. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.25 billion. During the same period last year, the firm earned $1.98 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis.

Several other research firms have also issued reports on DGX. StockNews.com upgraded shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research report on Tuesday. Barclays assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, January 3rd. They set an "equal weight" rating and a $145.00 price target on the stock. Bank of America upgraded shares of Quest Diagnostics from a "neutral" rating to a "buy" rating and raised their target price for the company from $140.00 to $160.00 in a research report on Tuesday, December 12th. TheStreet lowered shares of Quest Diagnostics from a "b-" rating to a "c" rating in a research report on Monday, February 5th. Finally, Truist Financial restated a "hold" rating and issued a $145.00 target price on shares of Quest Diagnostics in a research report on Wednesday, March 20th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $144.18.

Quest Diagnostics Price Performance

Shares of NYSE DGX traded down $1.14 during trading hours on Wednesday, hitting $131.61. 787,364 shares of the stock were exchanged, compared to its average volume of 1,051,433. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.20 and a current ratio of 1.31. The company has a market cap of $14.62 billion, a PE ratio of 17.57, a price-to-earnings-growth ratio of 2.81 and a beta of 0.91. The company's fifty day simple moving average is $127.99 and its two-hundred day simple moving average is $130.57. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $148.62.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, April 5th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 2.28%. Quest Diagnostics's payout ratio is presently 37.92%.

Insider Buying and Selling

In other news, SVP Michael E. Prevoznik sold 5,611 shares of the business'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 sale, the senior vice president now owns 38,478 shares of the company's stock, valued at $4,843,610.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Vicky B. Gregg sold 2,500 shares of the firm'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 completion of the sale, the director now 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael E. Prevoznik sold 5,611 shares of the firm's stock in a transaction 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 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 ninety days, insiders have sold 15,150 shares of company stock worth $1,913,202. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd bought a new position in shares of Quest Diagnostics during the fourth quarter valued at $26,000. Pacifica Partners Inc. bought a new stake in Quest Diagnostics in the 3rd quarter worth about $25,000. Chilton Capital Management LLC bought a new stake in Quest Diagnostics in the 1st quarter worth about $28,000. NBC Securities Inc. bought a new stake in Quest Diagnostics in the 3rd quarter worth about $25,000. Finally, BKM Wealth Management LLC bought a new stake in Quest Diagnostics in the 4th quarter worth about $29,000. 88.06% of the stock is currently owned by institutional investors.

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.