Quest Diagnostics Incorporated (NYSE:DGX) declared a quarterly dividend on Wednesday, November 18th, RTT News reports. Investors of record on Wednesday, January 20th will be paid a dividend of 0.56 per share by the medical research company on Wednesday, February 3rd. This represents a $2.24 annualized dividend and a yield of 1.82%.
Quest Diagnostics has raised its dividend by 34.2% over the last three years and has increased its dividend every year for the last 1 years. Quest Diagnostics has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Quest Diagnostics to earn $10.20 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 22.0%.
Shares of NYSE DGX opened at $122.81 on Friday. The firm’s 50-day simple moving average is $121.18 and its 200 day simple moving average is $117.05. The company has a market cap of $16.55 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. The company has a quick ratio of 1.32, a current ratio of 1.40 and a debt-to-equity ratio of 0.62. Quest Diagnostics has a 12-month low of $73.02 and a 12-month high of $131.81.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Thursday, October 22nd. The medical research company reported $4.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.56. Quest Diagnostics had a net margin of 13.22% and a return on equity of 19.23%. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the prior year, the company posted $1.76 EPS. The company’s revenue was up 42.6% compared to the same quarter last year. On average, equities analysts expect that Quest Diagnostics will post 9.99 earnings per share for the current year.
In other news, SVP Michael E. Prevoznik sold 35,591 shares of the company’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $119.00, for a total transaction of $4,235,329.00. Following the transaction, the senior vice president now owns 75,678 shares of the company’s stock, valued at approximately $9,005,682. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Catherine T. Doherty sold 58,392 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $110.60, for a total value of $6,458,155.20. Following the transaction, the senior vice president now directly owns 126,803 shares in the company, valued at approximately $14,024,411.80. The disclosure for this sale can be found here. Insiders have sold 396,430 shares of company stock valued at $47,039,374 in the last quarter. 1.49% of the stock is currently owned by corporate insiders.
DGX has been the topic of a number of research reports. ValuEngine downgraded shares of Quest Diagnostics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, November 11th. Citigroup upped their target price on shares of Quest Diagnostics from $130.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Argus upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $135.00 target price on the stock in a research report on Wednesday, October 21st. Deutsche Bank Aktiengesellschaft upped their price target on Quest Diagnostics from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Mizuho upped their price target on Quest Diagnostics from $144.00 to $149.00 and gave the company a “buy” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $126.83.
About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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