$1.93 Billion in Sales Expected for Quest Diagnostics Inc (DGX) This Quarter
Equities research analysts predict that Quest Diagnostics Inc (NYSE:DGX) will announce $1.93 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Quest Diagnostics’ earnings. The highest sales estimate is $1.94 billion and the lowest is $1.92 billion. Quest Diagnostics reported sales of $1.86 billion during the same quarter last year, which would suggest a positive year over year growth rate of 3.8%. The firm is scheduled to report its next earnings results on Thursday, January 25th.
On average, analysts expect that Quest Diagnostics will report full year sales of $1.93 billion for the current fiscal year, with estimates ranging from $7.67 billion to $7.72 billion. For the next year, analysts anticipate that the firm will post sales of $7.92 billion per share, with estimates ranging from $7.81 billion to $8.02 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Thursday, October 19th. The medical research company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. The business had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s revenue was up 2.4% on a year-over-year basis.
DGX has been the subject of a number of analyst reports. BidaskClub raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Canaccord Genuity reaffirmed a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a report on Wednesday, September 13th. Morgan Stanley increased their price target on shares of Quest Diagnostics from $87.00 to $92.00 and gave the company an “underweight” rating in a report on Thursday, August 10th. Craig Hallum reissued a “hold” rating and issued a $100.00 price objective (down from $110.00) on shares of Quest Diagnostics in a research report on Tuesday, October 17th. Finally, SunTrust Banks set a $105.00 price objective on shares of Quest Diagnostics and gave the stock a “hold” rating in a research report on Sunday, October 15th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Quest Diagnostics currently has an average rating of “Hold” and an average target price of $106.28.
Quest Diagnostics (DGX) traded up $0.75 on Wednesday, hitting $99.21. 2,595,827 shares of the company’s stock traded hands, compared to its average volume of 1,280,637. Quest Diagnostics has a twelve month low of $87.34 and a twelve month high of $112.96. The company has a market cap of $13,420.04, a P/E ratio of 17.65, a PEG ratio of 2.05 and a beta of 0.60. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, January 8th. Quest Diagnostics’s payout ratio is 37.74%.
In other Quest Diagnostics news, CEO Stephen H. Rusckowski sold 53,933 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $108.16, for a total value of $5,833,393.28. Following the completion of the sale, the chief executive officer now directly owns 220,049 shares in the company, valued at $23,800,499.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel Stanzione sold 3,803 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the completion of the sale, the director now owns 35,359 shares of the company’s stock, valued at $3,819,125.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,396 shares of company stock worth $17,343,852. 1.75% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of Quest Diagnostics by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock worth $102,331,000 after buying an additional 48,921 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in shares of Quest Diagnostics by 4.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 487,316 shares of the medical research company’s stock worth $54,171,000 after buying an additional 18,968 shares during the period. Commonwealth Bank of Australia lifted its position in Quest Diagnostics by 6.6% during the second quarter. Commonwealth Bank of Australia now owns 22,604 shares of the medical research company’s stock valued at $2,511,000 after purchasing an additional 1,398 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Quest Diagnostics by 12.7% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 33,104 shares of the medical research company’s stock valued at $3,680,000 after purchasing an additional 3,719 shares during the period. Finally, Brighton Jones LLC acquired a new position in Quest Diagnostics during the second quarter valued at $224,000. Institutional investors and hedge funds own 89.20% of the company’s stock.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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