Quest Diagnostics (NYSE:DGX) Releases FY24 Earnings Guidance

Quest Diagnostics (NYSE:DGX) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $8.85-$8.95 for the period, compared to the consensus estimate of $8.89. The company issued revenue guidance of $9.80-$9.85 billion, compared to the consensus revenue estimate of $9.68 billion. Quest Diagnostics also updated its FY 2024 guidance to 8.850-8.950 EPS.

Quest Diagnostics Stock Up 5.3 %

DGX stock traded up $7.83 during mid-day trading on Tuesday, reaching $155.20. 106,010 shares of the company traded hands, compared to its average volume of 912,736. The stock has a market cap of $17.24 billion, a price-to-earnings ratio of 20.93, a P/E/G ratio of 2.45 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57. Quest Diagnostics has a fifty-two week low of $120.87 and a fifty-two week high of $159.36. The firm’s 50 day moving average price is $152.60 and its 200 day moving average price is $144.20.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the business earned $2.30 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts predict that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Investors of record on Friday, October 4th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, October 4th. This represents a $3.00 annualized dividend and a yield of 1.93%. Quest Diagnostics’s payout ratio is 40.38%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Piper Sandler upped their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Robert W. Baird upped their price objective on Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Evercore ISI assumed coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective on the stock. Citigroup upgraded Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $165.00 in a research note on Wednesday, July 10th. Finally, Barclays upped their price objective on Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 27th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $154.92.

Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, SVP Mark E. Delaney sold 420 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at $718,118.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, SVP Karthik Kuppusamy sold 1,990 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Mark E. Delaney sold 420 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the completion of the transaction, the senior vice president now directly owns 5,019 shares in the company, valued at approximately $718,118.52. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.79% 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.