Q3 2024 EPS Estimates for Quest Diagnostics Incorporated (NYSE:DGX) Decreased by Zacks Research

Quest Diagnostics Incorporated (NYSE:DGX) – Research analysts at Zacks Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Quest Diagnostics in a note issued to investors on Monday, August 5th. Zacks Research analyst M. Mondal now expects that the medical research company will earn $2.26 per share for the quarter, down from their previous forecast of $2.29. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.89 per share. Zacks Research also issued estimates for Quest Diagnostics’ Q4 2024 earnings at $2.17 EPS, Q1 2025 earnings at $2.16 EPS and Q2 2026 earnings at $2.58 EPS.

DGX has been the subject of a number of other reports. Truist Financial increased their target price on Quest Diagnostics from $150.00 to $158.00 and gave the stock a “hold” rating in a report on Monday, July 15th. JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Robert W. Baird raised their price target on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. Citigroup raised Quest Diagnostics from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $165.00 in a report on Wednesday, July 10th. Finally, Barclays raised their price target on Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $150.58.

Quest Diagnostics Trading Up 2.6 %

Shares of DGX opened at $149.93 on Wednesday. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $151.78. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $141.81 and a 200-day simple moving average of $135.03. The stock has a market cap of $16.66 billion, a PE ratio of 20.18, a PEG ratio of 2.69 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the company earned $2.30 EPS. The company’s quarterly revenue was up 2.5% on a year-over-year basis.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 8th were given a $0.75 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.00%. Quest Diagnostics’s dividend payout ratio is currently 40.38%.

Insider Transactions at Quest Diagnostics

In other news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total value of $60,093.60. Following the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Alaska Department of Revenue lifted its holdings in Quest Diagnostics by 50.9% during the first quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock worth $5,562,000 after acquiring an additional 14,090 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Quest Diagnostics by 5.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock worth $18,634,000 after acquiring an additional 7,415 shares in the last quarter. Scarborough Advisors LLC bought a new position in Quest Diagnostics during the fourth quarter worth about $1,562,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Quest Diagnostics by 16.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock worth $17,481,000 after acquiring an additional 18,642 shares in the last quarter. Finally, Strs Ohio lifted its holdings in shares of Quest Diagnostics by 7.6% in the fourth quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock valued at $2,243,000 after purchasing an additional 1,150 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

About Quest Diagnostics

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.