Quest Diagnostics (NYSE:DGX) Issues Earnings Results

Quest Diagnostics (NYSE:DGX) issued its earnings results on Thursday. The medical research company reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.31, MarketWatch Earnings reports. The firm had revenue of $2.55 billion for the quarter, compared to analyst estimates of $2.38 billion. Quest Diagnostics had a net margin of 17.43% and a return on equity of 29.42%. The company’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter last year, the business posted $1.42 earnings per share. Quest Diagnostics updated its FY 2021 guidance to $10.650-$11.350 EPS and its FY21 guidance to $10.65-11.35 EPS.

Shares of NYSE DGX opened at $137.97 on Friday. Quest Diagnostics has a twelve month low of $104.10 and a twelve month high of $142.80. The business’s fifty day moving average price is $131.47. The company has a market capitalization of $18.02 billion, a P/E ratio of 10.48, a PEG ratio of 0.46 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.76 and a quick ratio of 1.63.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 21st. Investors of record on Wednesday, July 7th were paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, July 6th. Quest Diagnostics’s dividend payout ratio is presently 22.18%.

A number of equities analysts have recently commented on DGX shares. Mizuho lifted their price target on shares of Quest Diagnostics from $149.00 to $158.00 and gave the stock a “buy” rating in a report on Wednesday, May 12th. UBS Group upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $135.00 to $158.00 in a report on Tuesday, May 4th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $144.00.

In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 44,939 shares of Quest Diagnostics stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $137.00, for a total value of $6,156,643.00. Following the completion of the sale, the senior vice president now directly owns 85,091 shares of the company’s stock, valued at $11,657,467. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Catherine T. Doherty sold 8,536 shares of Quest Diagnostics stock in a transaction on Friday, May 7th. The shares were sold at an average price of $139.96, for a total transaction of $1,194,698.56. Following the completion of the sale, the senior vice president now directly owns 68,729 shares of the company’s stock, valued at $9,619,310.84. The disclosure for this sale can be found here. 1.45% of the stock is owned by company insiders.

About Quest Diagnostics

Quest Diagnostics, Inc engages in the provision of diagnostic testing, information and services. It operates through the Diagnostic Information Services (DIS) and All Other segments. The DIS segment offers diagnostic information services to patients, clinicians, hospitals, health plans, and employers.

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Earnings History for Quest Diagnostics (NYSE:DGX)

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