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

Quest Diagnostics Incorporated (NYSE:DGX - Free Report) - Equities researchers at Leerink Partnrs dropped 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 forecasts that the medical research company will post earnings per share of $2.23 for the quarter, down from their prior estimate 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 - Get Free Report) last issued its earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.18. Quest Diagnostics had a net margin of 9.11% and a return on equity of 15.52%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the previous year, the business earned $2.04 EPS. The firm's revenue was up 1.7% on a year-over-year basis.

Several other analysts have also weighed in on the stock. StockNews.com upgraded shares of Quest Diagnostics from a "hold" rating to a "buy" rating in a research report on Thursday. UBS Group lifted their price target on shares of Quest Diagnostics from $139.00 to $146.00 and gave the company a "neutral" rating in a report on Wednesday. Truist Financial lifted their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday. Jefferies Financial Group raised shares of Quest Diagnostics from a "hold" rating to a "buy" rating and lifted their price target for the company from $140.00 to $155.00 in a report on Wednesday, February 7th. Finally, Citigroup lifted their price target on shares of Quest Diagnostics from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Wednesday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $146.17.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock traded down $1.16 during trading on Friday, hitting $134.26. 601,724 shares of the company's stock traded hands, compared to its average volume of 1,058,009. 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 firm's fifty day moving average price is $128.89 and its 200 day moving average price is $131.11. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $146.85. The company has a market cap of $14.91 billion, a PE ratio of 18.23, a PEG ratio of 2.97 and a beta of 0.91.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Raymond James & Associates grew its holdings in Quest Diagnostics by 103.3% during the fourth quarter. Raymond James & Associates now owns 148,251 shares of the medical research company's stock valued at $20,441,000 after purchasing an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new position in Quest Diagnostics during the fourth quarter valued at approximately $1,483,000. Wellington Management Group LLP grew its holdings in Quest Diagnostics by 14.6% during the third quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company's stock valued at $318,517,000 after purchasing an additional 333,947 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of Quest Diagnostics by 201.5% in the fourth quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company's stock valued at $4,400,000 after buying an additional 21,327 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Quest Diagnostics by 7.6% in the fourth quarter. Strs Ohio now owns 16,270 shares of the medical research company's stock valued at $2,243,000 after buying an additional 1,150 shares during the period. Institutional investors and hedge funds own 88.06% of the company's stock.

Insiders Place Their Bets

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business's stock in a transaction dated 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 $4,843,610.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related 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 transaction of $706,312.68. Following the completion of the sale, the senior vice president now directly 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 available at this link. Also, EVP Catherine T. Doherty sold 5,557 shares of the business's stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $126.57, for a total transaction of $703,349.49. Following the sale, the executive vice president now directly owns 69,599 shares of the company's stock, valued at $8,809,145.43. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,150 shares of company stock valued at $1,913,202. Insiders own 0.79% of the company's stock.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, April 5th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.71. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.23%. Quest Diagnostics's payout ratio is currently 38.22%.

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.