Quest Diagnostics (NYSE:DGX) Issues Earnings Results

Quest Diagnostics (NYSE:DGX - Get Free Report) announced its quarterly earnings data on Tuesday. The medical research company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.86 by $0.18, Briefing.com reports. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.29 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The firm's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.04 earnings per share. Quest Diagnostics updated its FY24 guidance to $8.72-$8.97 EPS and its FY 2024 guidance to 8.720-8.970 EPS.

Quest Diagnostics Stock Performance

Shares of NYSE:DGX traded up $0.85 on Wednesday, reaching $137.55. 1,566,421 shares of the company's stock were exchanged, compared to its average volume of 1,064,314. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $148.62. The company has a fifty day moving average of $128.50 and a 200-day moving average of $131.03. The company has a market capitalization of $15.28 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.81 and a beta of 0.91.

Quest Diagnostics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.75 dividend. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Friday, April 5th. This represents a $3.00 annualized dividend and a yield of 2.18%. Quest Diagnostics's payout ratio is 37.92%.

Insider Activity at Quest Diagnostics

In other news, EVP Catherine T. Doherty sold 821 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $103,560.94. Following the sale, the executive vice president now directly owns 70,800 shares of the company's stock, valued at approximately $8,930,712. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, EVP Catherine T. Doherty sold 821 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total transaction of $103,560.94. Following the sale, the executive vice president now owns 70,800 shares in the company, valued at approximately $8,930,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Catherine T. Doherty sold 5,557 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $126.57, for a total value of $703,349.49. Following the completion of the transaction, the executive vice president now owns 69,599 shares in the company, valued at approximately $8,809,145.43. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,150 shares of company stock worth $1,913,202. Company insiders own 0.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised Quest Diagnostics from a "hold" rating to a "buy" rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Wednesday, February 7th. SVB Leerink started coverage on shares of Quest Diagnostics in a report on Monday, February 26th. They set a "market perform" rating and a $135.00 price objective on the stock. Barclays initiated coverage on shares of Quest Diagnostics in a research report on Wednesday, January 3rd. They issued an "equal weight" rating and a $145.00 price objective on the stock. Mizuho increased their target price on Quest Diagnostics from $150.00 to $155.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Leerink Partnrs restated a "market perform" rating on shares of Quest Diagnostics in a report on Monday, February 26th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Quest Diagnostics has an average rating of "Hold" and an average target price of $146.25.

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.