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 EPS guidance of $8.85-$8.95 for the period, compared to the consensus EPS 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 Trading Down 1.5 %

NYSE DGX opened at $147.40 on Tuesday. The firm has a market capitalization of $16.37 billion, a PE ratio of 19.84, a P/E/G ratio of 2.45 and a beta of 0.89. The stock’s 50 day moving average is $152.60 and its 200 day moving average is $144.20. Quest Diagnostics has a twelve month low of $120.87 and a twelve month high of $159.36. 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 (NYSE:DGX) last released 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 net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the firm earned $2.30 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Quest Diagnostics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, October 4th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.38%.

Wall Street Analysts Forecast Growth

DGX has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a report on Monday, October 7th. Evercore ISI began coverage on Quest Diagnostics in a research note on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 target price on the stock. Piper Sandler raised their price target on Quest Diagnostics from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $145.00 to $165.00 in a research note on Wednesday, July 10th. Finally, Robert W. Baird raised their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $154.92.

Insider Activity

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

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.