William Blair Comments on Quest Diagnostics Incorporated’s Q2 2024 Earnings (NYSE:DGX)

Quest Diagnostics Incorporated (NYSE:DGX) – Research analysts at William Blair increased their Q2 2024 earnings per share (EPS) estimates for Quest Diagnostics in a report released on Tuesday, April 23rd. William Blair analyst A. Brackmann now forecasts that the medical research company will post earnings per share of $2.32 for the quarter, up from their prior estimate of $2.22. The consensus estimate for Quest Diagnostics’ current full-year earnings is $8.74 per share. William Blair also issued estimates for Quest Diagnostics’ Q3 2024 earnings at $2.31 EPS and FY2024 earnings at $8.85 EPS.

A number of other research firms also recently weighed in on DGX. Jefferies Financial Group upgraded Quest Diagnostics from a “hold” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a research report on Wednesday, February 7th. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a research report on Monday, February 5th. SVB Leerink assumed coverage on Quest Diagnostics in a research note on Monday, February 26th. They set a “market perform” rating and a $135.00 price objective on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Quest Diagnostics in a research note on Monday, February 26th. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Quest Diagnostics presently has an average rating of “Hold” and a consensus price target of $146.17.

Quest Diagnostics Trading Down 1.5 %

NYSE DGX opened at $135.47 on Friday. The stock’s 50-day simple moving average is $128.89 and its two-hundred day simple moving average is $131.11. Quest Diagnostics has a twelve month low of $119.59 and a twelve month high of $147.96. The company has a quick ratio of 1.20, a current ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $15.05 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.97 and a beta of 0.91.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the business posted $2.04 earnings per share. The firm’s revenue was up 1.7% compared to the same quarter last year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 8th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.21%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.71. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 38.22%.

Insider Activity

In related news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the transaction, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Vicky B. Gregg sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $126.64, for a total value of $316,600.00. Following the completion of the transaction, the director now directly owns 16,329 shares in the company, valued at approximately $2,067,904.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Catherine T. Doherty sold 821 shares of Quest Diagnostics stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $103,560.94. Following the completion of the sale, the executive vice president now directly owns 70,800 shares of the company’s stock, valued at approximately $8,930,712. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,150 shares of company stock worth $1,913,202. Insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of large investors have recently added to or reduced their stakes in DGX. Raymond James & Associates grew its position in shares of Quest Diagnostics by 103.3% during the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock valued at $20,441,000 after acquiring an additional 75,315 shares during the period. CHURCHILL MANAGEMENT Corp bought a new stake in shares of Quest Diagnostics during the 4th quarter valued at $1,483,000. Wellington Management Group LLP grew its position in shares of Quest Diagnostics by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock valued at $318,517,000 after acquiring an additional 333,947 shares during the period. Pacer Advisors Inc. grew its position in shares of Quest Diagnostics by 201.5% during the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock valued at $4,400,000 after acquiring an additional 21,327 shares during the period. Finally, Strs Ohio grew its position in shares of Quest Diagnostics by 7.6% during the 4th quarter. Strs Ohio now owns 16,270 shares of the medical research company’s stock valued at $2,243,000 after acquiring an additional 1,150 shares during the period. Institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

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.