Quest Diagnostics (DGX) Releases Earnings Results, Beats Expectations By $0.04 EPS

Quest Diagnostics (NYSE:DGX) announced its quarterly earnings data on Tuesday. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.04, MarketWatch Earnings reports. The firm had revenue of $1.89 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the prior year, the company posted $152.00 earnings per share. Quest Diagnostics updated its FY 2019 guidance to $6.40 EPS.

Shares of NYSE:DGX opened at $85.18 on Tuesday. Quest Diagnostics has a 52 week low of $78.95 and a 52 week high of $116.49. The firm has a market capitalization of $11.61 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 2.02 and a beta of 0.90. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.94 and a quick ratio of 0.87.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 8th were paid a $0.53 dividend. The ex-dividend date was Friday, April 5th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.49%. Quest Diagnostics’s payout ratio is currently 33.60%.



Several equities analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Quest Diagnostics in a research note on Tuesday, April 2nd. They set an “underperform” rating for the company. Jefferies Financial Group raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating and raised their target price for the company from $93.00 to $107.00 in a research note on Tuesday, April 2nd. Zacks Investment Research raised shares of Quest Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Credit Suisse Group cut shares of Quest Diagnostics from an “outperform” rating to a “neutral” rating and cut their target price for the company from $101.00 to $91.00 in a research note on Monday, March 18th. Finally, Mizuho set a $106.00 target price on shares of Quest Diagnostics and gave the company a “buy” rating in a research note on Friday, February 15th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.50.

In other news, Director Gail R. Wilensky sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $87.78, for a total value of $702,240.00. Following the completion of the sale, the director now owns 34,604 shares in the company, valued at approximately $3,037,539.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Catherine T. Doherty sold 66,382 shares of the firm’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $90.59, for a total transaction of $6,013,545.38. Following the completion of the sale, the senior vice president now owns 133,908 shares of the company’s stock, valued at approximately $12,130,725.72. The disclosure for this sale can be found here. Insiders sold a total of 88,106 shares of company stock valued at $7,935,229 over the last three months. Corporate insiders own 1.86% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Financial Advantage Inc. lifted its holdings in shares of Quest Diagnostics by 0.4% in the 1st quarter. Financial Advantage Inc. now owns 30,212 shares of the medical research company’s stock worth $2,716,000 after acquiring an additional 128 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Quest Diagnostics by 32.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in Quest Diagnostics by 1.5% during the 4th quarter. Moody National Bank Trust Division now owns 12,082 shares of the medical research company’s stock valued at $1,006,000 after buying an additional 182 shares in the last quarter. ETF Managers Group LLC lifted its holdings in Quest Diagnostics by 17.7% during the 4th quarter. ETF Managers Group LLC now owns 1,322 shares of the medical research company’s stock valued at $110,000 after buying an additional 199 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its holdings in Quest Diagnostics by 1.6% during the 4th quarter. Pinnacle Associates Ltd. now owns 13,554 shares of the medical research company’s stock valued at $1,129,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 90.24% of the company’s stock.

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Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Earnings History for Quest Diagnostics (NYSE:DGX)

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