Wall Street analysts expect Quest Diagnostics Inc (NYSE:DGX) to report $1.93 billion in sales for the current quarter, according to Zacks. Ten analysts have issued 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 in the same quarter last year, which indicates a positive year over year growth rate of 3.8%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, February 1st.
According to Zacks, analysts expect that Quest Diagnostics will report full year sales of $1.93 billion for the current fiscal year, with estimates ranging from $7.69 billion to $7.72 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.94 billion per share, with estimates ranging from $7.81 billion to $8.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The business had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the company posted $1.37 EPS. Quest Diagnostics’s revenue for the quarter was up 2.4% on a year-over-year basis.
In other news, EVP J. E. Davis sold 63,880 shares of Quest Diagnostics stock in a transaction dated 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 sale, the executive vice president now directly owns 101,423 shares in the company, valued at approximately $10,008,421.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.75% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in DGX. Robeco Institutional Asset Management B.V. raised its stake in shares of Quest Diagnostics by 4.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock valued at $102,331,000 after acquiring an additional 48,921 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Quest Diagnostics in the 3rd quarter valued at approximately $446,000. AXA raised its stake in shares of Quest Diagnostics by 38.7% in the 3rd quarter. AXA now owns 80,875 shares of the medical research company’s stock valued at $7,573,000 after acquiring an additional 22,575 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of Quest Diagnostics in the 2nd quarter valued at approximately $1,634,000. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Quest Diagnostics by 4.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 510,114 shares of the medical research company’s stock valued at $47,768,000 after acquiring an additional 22,798 shares in the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
Quest Diagnostics (DGX) traded up $1.49 during trading hours on Friday, hitting $103.06. The company had a trading volume of 876,549 shares, compared to its average volume of 907,838. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37. Quest Diagnostics has a fifty-two week low of $90.10 and a fifty-two week high of $112.96. The firm has a market cap of $14,050.00, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Tuesday, January 9th will be issued a dividend of $0.45 per share. The ex-dividend date is Monday, January 8th. This represents a $1.80 annualized dividend and a dividend yield of 1.75%. Quest Diagnostics’s dividend payout ratio is 37.50%.
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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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