Quest Diagnostics (NYSE:DGX) Releases FY24 Earnings Guidance

by · The Markets Daily

Quest Diagnostics (NYSE:DGX – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $8.85-$8.95 for the period, compared to the consensus estimate of $8.89. The company issued revenue guidance of $9.80-$9.85 billion, compared to the consensus revenue estimate of $9.68 billion. Quest Diagnostics also updated its FY 2024 guidance to 8.850-8.950 EPS.

Wall Street Analyst Weigh In

Several research firms have issued reports on DGX. Piper Sandler upped their price target on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Robert W. Baird increased their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Evercore ISI assumed coverage on shares of Quest Diagnostics in a research report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective on the stock. Truist Financial increased their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a research report on Monday, October 7th. Finally, StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $154.92.

View Our Latest Analysis on Quest Diagnostics

Quest Diagnostics Price Performance

Quest Diagnostics stock traded up $7.83 during trading hours on Tuesday, reaching $155.20. 106,010 shares of the stock were exchanged, compared to its average volume of 912,736. The company has a market cap of $17.24 billion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. Quest Diagnostics has a twelve month low of $120.87 and a twelve month high of $159.36. The stock has a 50 day moving average of $152.60 and a two-hundred day moving average of $144.20.

Quest Diagnostics (NYSE:DGX – Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company posted $2.30 earnings per share. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. Equities analysts expect that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Insider Activity at Quest Diagnostics

In other news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total transaction of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the transaction, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by insiders.

About Quest Diagnostics

(Get Free Report)

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.

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