Quest Diagnostics Inc to Post Q2 2019 Earnings of $1.83 Per Share, William Blair Forecasts (DGX)
Quest Diagnostics Inc (NYSE:DGX) – Stock analysts at William Blair raised their Q2 2019 earnings estimates for shares of Quest Diagnostics in a research note issued to investors on Tuesday. William Blair analyst A. Murphy now expects that the medical research company will earn $1.83 per share for the quarter, up from their prior forecast of $1.59. William Blair also issued estimates for Quest Diagnostics’ Q3 2019 earnings at $1.76 EPS, Q4 2019 earnings at $1.69 EPS and FY2020 earnings at $7.14 EPS.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the business posted $1.31 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Shares of Quest Diagnostics (NYSE:DGX) traded up $0.12 during trading hours on Wednesday, reaching $101.25. The company’s stock had a trading volume of 633,504 shares, compared to its average volume of 993,553. The firm has a market capitalization of $13,880.00, a price-to-earnings ratio of 18.51, a PEG ratio of 1.82 and a beta of 0.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.24 and a quick ratio of 1.15. Quest Diagnostics has a 12 month low of $90.10 and a 12 month high of $112.96.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, April 3rd. This represents a $2.00 annualized dividend and a dividend yield of 1.98%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s dividend payout ratio is 32.73%.
In related news, SVP Catherine T. Doherty sold 21,294 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total value of $2,214,576.00. Following the transaction, the senior vice president now owns 90,709 shares in the company, valued at approximately $9,433,736. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP J. E. Davis sold 63,880 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the transaction, the executive vice president now owns 101,423 shares in the company, valued at approximately $10,008,421.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 192,014 shares of company stock worth $19,950,134. Corporate insiders own 1.75% of the company’s stock.
A number of large investors have recently modified their holdings of DGX. Thrivent Financial For Lutherans grew its stake in shares of Quest Diagnostics by 2.0% during the 2nd quarter. Thrivent Financial For Lutherans now owns 5,200 shares of the medical research company’s stock worth $578,000 after purchasing an additional 100 shares during the period. QS Investors LLC lifted its stake in Quest Diagnostics by 5.7% in the second quarter. QS Investors LLC now owns 10,551 shares of the medical research company’s stock valued at $1,173,000 after buying an additional 568 shares during the last quarter. HighTower Advisors LLC lifted its stake in Quest Diagnostics by 9.8% in the second quarter. HighTower Advisors LLC now owns 13,513 shares of the medical research company’s stock valued at $1,505,000 after buying an additional 1,201 shares during the last quarter. Royal Bank of Canada lifted its stake in Quest Diagnostics by 10.5% in the second quarter. Royal Bank of Canada now owns 71,645 shares of the medical research company’s stock valued at $7,967,000 after buying an additional 6,820 shares during the last quarter. Finally, BlueCrest Capital Management Ltd lifted its stake in Quest Diagnostics by 38.9% in the second quarter. BlueCrest Capital Management Ltd now owns 3,048 shares of the medical research company’s stock valued at $339,000 after buying an additional 853 shares during the last quarter. Institutional investors own 89.17% of the company’s stock.
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About Quest Diagnostics
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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