Quest Diagnostics Incorporated (DGX) Expected to Post Q4 2017 Earnings of $1.39 Per Share
Quest Diagnostics Incorporated (NYSE:DGX) – Stock analysts at Jefferies Group boosted their Q4 2017 earnings per share (EPS) estimates for shares of Quest Diagnostics in a research report issued on Thursday. Jefferies Group analyst B. Tanquilut now forecasts that the medical research company will post earnings of $1.39 per share for the quarter, up from their previous forecast of $1.36.
Quest Diagnostics (NYSE:DGX) last issued its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.92 billion. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.53%. During the same quarter last year, the firm earned $1.37 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. ILLEGAL ACTIVITY WARNING: “Quest Diagnostics Incorporated (DGX) Expected to Post Q4 2017 Earnings of $1.39 Per Share” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another website, it was stolen and reposted in violation of U.S. & international copyright law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/23/quest-diagnostics-incorporated-dgx-expected-to-post-q4-2017-earnings-of-1-39-per-share.html.
Other analysts have also recently issued research reports about the company. UBS AG increased their price target on Quest Diagnostics from $115.00 to $123.00 and gave the company a “buy” rating in a research note on Thursday, July 6th. Evercore ISI reissued an “in-line” rating and set a $104.50 price target on shares of Quest Diagnostics in a research note on Wednesday, June 28th. Barclays PLC reaffirmed a “hold” rating and issued a $110.00 price objective on shares of Quest Diagnostics in a research note on Wednesday, July 19th. BidaskClub raised Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, Zacks Investment Research lowered Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. Quest Diagnostics has an average rating of “Hold” and a consensus price target of $106.83.
Shares of Quest Diagnostics (NYSE DGX) opened at 95.08 on Monday. The firm has a market capitalization of $12.97 billion, a P/E ratio of 19.16 and a beta of 0.65. Quest Diagnostics has a 12-month low of $79.12 and a 12-month high of $112.96. The stock has a 50 day moving average of $98.11 and a 200-day moving average of $104.54.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 3rd were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, October 2nd. This represents a $1.80 annualized dividend and a dividend yield of 1.89%. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.74%.
In other Quest Diagnostics news, Director Daniel Stanzione sold 3,803 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was 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 directly owns 35,359 shares in the company, valued at approximately $3,819,125.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Stephen H. Rusckowski sold 53,933 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $108.16, for a total value of $5,833,393.28. Following the sale, the chief executive officer now owns 220,049 shares of the company’s stock, valued at $23,800,499.84. The disclosure for this sale can be found here. In the last three months, insiders sold 161,996 shares of company stock valued at $17,517,207. Insiders own 1.75% of the company’s stock.
Several institutional investors have recently modified their holdings of DGX. FMR LLC boosted its holdings in shares of Quest Diagnostics by 2.4% during the 1st quarter. FMR LLC now owns 759,611 shares of the medical research company’s stock worth $74,586,000 after purchasing an additional 17,794 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Quest Diagnostics by 23.6% during the 1st quarter. Teachers Advisors LLC now owns 219,065 shares of the medical research company’s stock worth $21,510,000 after purchasing an additional 41,822 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Quest Diagnostics by 4.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,100 shares of the medical research company’s stock worth $501,000 after purchasing an additional 220 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Quest Diagnostics by 36.1% during the 1st quarter. Morgan Stanley now owns 404,522 shares of the medical research company’s stock worth $39,720,000 after purchasing an additional 107,330 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Quest Diagnostics by 755.2% during the 1st quarter. Renaissance Technologies LLC now owns 503,700 shares of the medical research company’s stock worth $49,458,000 after purchasing an additional 444,800 shares during the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.
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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