Quest Diagnostics (NYSE:DGX) Issues FY 2021 Earnings Guidance

Quest Diagnostics (NYSE:DGX) updated its FY 2021 earnings guidance on Thursday. The company provided EPS guidance of $10.650-$11.350 for the period, compared to the Thomson Reuters consensus EPS estimate of $11.130. The company issued revenue guidance of $9.54 billion-$9.79 billion, compared to the consensus revenue estimate of $9.45 billion.Quest Diagnostics also updated its FY21 guidance to $10.65-11.35 EPS.

Several research firms recently issued reports on DGX. UBS Group upgraded shares of Quest Diagnostics from a neutral rating to a buy rating and increased their price target for the stock from $135.00 to $158.00 in a research report on Tuesday, May 4th. Mizuho raised their target price on shares of Quest Diagnostics from $149.00 to $158.00 and gave the company a buy rating in a research report on Wednesday, May 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $144.00.

Quest Diagnostics stock traded up $1.77 during mid-day trading on Thursday, reaching $137.55. The company had a trading volume of 54,775 shares, compared to its average volume of 896,761. The firm has a market cap of $17.97 billion, a P/E ratio of 10.31, a P/E/G ratio of 0.46 and a beta of 1.04. The company has a fifty day moving average of $131.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.63 and a current ratio of 1.76. Quest Diagnostics has a fifty-two week low of $104.10 and a fifty-two week high of $142.80.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Thursday, July 22nd. The medical research company reported $3.18 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.32. The company 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%. Quest Diagnostics’s revenue was up 39.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.42 earnings per share. Sell-side analysts predict that Quest Diagnostics will post 11.22 earnings per share for the current fiscal year.

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

In related 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 transaction of $6,156,643.00. Following the completion of the transaction, the senior vice president now owns 85,091 shares of the company’s stock, valued at $11,657,467. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Catherine T. Doherty sold 8,536 shares of Quest Diagnostics stock in a transaction on Friday, May 7th. The stock was sold at an average price of $139.96, for a total transaction of $1,194,698.56. Following the transaction, the senior vice president now directly owns 68,729 shares of the company’s stock, valued at approximately $9,619,310.84. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by 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 and Estimates for Quest Diagnostics (NYSE:DGX)

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