Quest Diagnostics (NYSE:DGX – Get Free Report) released its earnings results on Tuesday. The medical research company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18, Briefing.com reports. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.04 EPS. 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 Trading Up 0.7 %
Shares of NYSE DGX traded up $0.92 during trading on Wednesday, reaching $137.62. The company had a trading volume of 562,952 shares, compared to its average volume of 1,051,003. The company’s fifty day moving average price is $128.50 and its 200-day moving average price is $131.03. Quest Diagnostics has a 12 month low of $119.59 and a 12 month high of $148.62. The stock has a market cap of $15.28 billion, a P/E ratio of 18.40, a PEG ratio of 2.81 and a beta of 0.91. The company has a quick ratio of 1.20, a current ratio of 1.31 and a debt-to-equity ratio of 0.70.
Quest Diagnostics Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, April 5th. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. Quest Diagnostics’s payout ratio is 37.92%.
Insider Buying and Selling at Quest Diagnostics
Analysts Set New Price Targets
A number of analysts have recently weighed in on DGX shares. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. Barclays initiated coverage on Quest Diagnostics in a research report on Wednesday, January 3rd. They set an “equal weight” rating and a $145.00 target price for the company. TheStreet cut Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Truist Financial boosted their price target on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Mizuho boosted their price target on Quest Diagnostics from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and three 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 $146.25.
View Our Latest Stock Report on DGX
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.
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