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

Quest Diagnostics Incorporated (NYSE:DGX) – Investment analysts at Zacks Research increased their Q3 2024 earnings per share (EPS) estimates for Quest Diagnostics in a research note issued on Tuesday, April 9th. Zacks Research analyst M. Mondal now expects that the medical research company will post earnings of $2.30 per share for the quarter, up from their previous forecast of $2.29. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.75 per share. Zacks Research also issued estimates for Quest Diagnostics’ FY2026 earnings at $10.05 EPS.

Quest Diagnostics (NYSE:DGX) last posted its earnings results on Thursday, February 1st. The medical research company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.04. Quest Diagnostics had a return on equity of 15.79% and a net margin of 9.23%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same period in the previous year, the business earned $1.98 earnings per share. Quest Diagnostics’s quarterly revenue was down 1.9% compared to the same quarter last year.

A number of other equities research analysts have also issued reports on DGX. StockNews.com upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial reaffirmed a “hold” rating and set a $145.00 target price on shares of Quest Diagnostics in a report on Wednesday, March 20th. Jefferies Financial Group raised Quest Diagnostics from a “hold” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a report on Wednesday, February 7th. Leerink Partnrs reissued a “market perform” rating on shares of Quest Diagnostics in a report on Monday, February 26th. Finally, SVB Leerink assumed coverage on Quest Diagnostics in a report on Monday, February 26th. They issued a “market perform” rating and a $135.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Quest Diagnostics currently has a consensus rating of “Hold” and an average target price of $144.18.

Quest Diagnostics Stock Performance

Quest Diagnostics stock opened at $131.61 on Wednesday. The firm has a market capitalization of $14.62 billion, a P/E ratio of 17.57, a PEG ratio of 2.81 and a beta of 0.91. The company has a current ratio of 1.31, a quick ratio of 1.20 and a debt-to-equity ratio of 0.70. The stock has a fifty day moving average price of $127.99 and a 200 day moving average price of $130.57. Quest Diagnostics has a 52 week low of $119.59 and a 52 week high of $148.62.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 22nd. Stockholders of record on Monday, April 8th will be issued a dividend of $0.75 per share. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Friday, April 5th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.28%. Quest Diagnostics’s payout ratio is currently 37.92%.

Insider Activity

In other news, SVP Michael E. Prevoznik sold 661 shares of Quest Diagnostics stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the transaction, the senior vice president now owns 40,206 shares in the company, valued at $5,071,584.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $125.88, for a total value of $706,312.68. Following the transaction, the senior vice president now owns 38,478 shares in the company, valued at $4,843,610.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $126.14, for a total value of $83,378.54. Following the completion of the transaction, the senior vice president now owns 40,206 shares in the company, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,150 shares of company stock worth $1,913,202. 0.66% of the stock is owned by corporate insiders.

Institutional Trading of Quest Diagnostics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacifica Partners Inc. acquired a new stake in shares of Quest Diagnostics in the third quarter worth about $25,000. NBC Securities Inc. acquired a new position in shares of Quest Diagnostics during the 3rd quarter worth about $25,000. Altshuler Shaham Ltd acquired a new position in shares of Quest Diagnostics during the 4th quarter worth about $26,000. VisionPoint Advisory Group LLC lifted its position in shares of Quest Diagnostics by 100.0% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 218 shares of the medical research company’s stock worth $27,000 after purchasing an additional 109 shares during the last quarter. Finally, Chilton Capital Management LLC acquired a new position in shares of Quest Diagnostics during the 1st quarter worth about $28,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Company Profile

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.