Quest Diagnostics (NYSE:DGX) Releases FY24 Earnings Guidance

Quest Diagnostics (NYSE:DGX) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.72-$8.97 for the period, compared to the consensus estimate of $8.75. The company issued revenue guidance of $9.40-$9.48 billion, compared to the consensus revenue estimate of $9.40 billion. Quest Diagnostics also updated its FY 2024 guidance to 8.720-8.970 EPS.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Leerink Partnrs reissued a market perform rating on shares of Quest Diagnostics in a report on Monday, February 26th. SVB Leerink began coverage on Quest Diagnostics in a report on Monday, February 26th. They issued a market perform rating and a $135.00 price target for the company. Barclays began coverage on Quest Diagnostics in a report on Wednesday, January 3rd. They set an equal weight rating and a $145.00 price objective for the company. TheStreet cut Quest Diagnostics from a b- rating to a c rating in a report on Monday, February 5th. Finally, Jefferies Financial Group raised Quest Diagnostics from a hold rating to a buy rating and lifted their price objective for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Ten analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Quest Diagnostics currently has a consensus rating of Hold and an average target price of $145.50.

Quest Diagnostics Trading Up 1.2 %

Shares of NYSE:DGX traded up $1.59 during midday trading on Wednesday, reaching $138.29. The company’s stock had a trading volume of 494,820 shares, compared to its average volume of 1,049,981. The firm has a market cap of $15.36 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth 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 has a 1 year low of $119.59 and a 1 year high of $148.62. The business has a 50 day moving average price of $128.50 and a 200 day moving average price of $131.03.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts forecast that Quest Diagnostics will post 8.75 EPS for the current year.

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, April 5th. This is an increase 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

In other Quest Diagnostics news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $126.64, for a total transaction of $316,600.00. Following the transaction, the director now owns 16,329 shares in the company, valued at $2,067,904.56. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $125.88, for a total transaction of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 16,329 shares in the company, valued at approximately $2,067,904.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,150 shares of company stock valued at $1,913,202. Company insiders own 0.79% of the company’s stock.

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.