Wall Street brokerages expect Quest Diagnostics Inc (NYSE:DGX) to post sales of $1.94 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Quest Diagnostics’ earnings, with the lowest sales estimate coming in at $1.92 billion and the highest estimate coming in at $1.95 billion. Quest Diagnostics reported sales of $1.89 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.6%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that Quest Diagnostics will report full-year sales of $7.70 billion for the current financial year, with estimates ranging from $7.66 billion to $7.75 billion. For the next fiscal year, analysts forecast that the company will post sales of $7.92 billion, with estimates ranging from $7.82 billion to $8.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last released its earnings results on Tuesday, July 23rd. The medical research company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.04. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Quest Diagnostics had a return on equity of 15.05% and a net margin of 9.64%. Quest Diagnostics’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 earnings per share.
In other Quest Diagnostics news, insider Mark Guinan sold 73,005 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total transaction of $7,300,500.00. Following the completion of the sale, the insider now directly owns 139,022 shares in the company, valued at $13,902,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Stephen H. Rusckowski sold 244,565 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $100.00, for a total value of $24,456,500.00. Following the sale, the chairman now owns 457,614 shares of the company’s stock, valued at $45,761,400. The disclosure for this sale can be found here. 1.86% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pearl River Capital LLC purchased a new stake in shares of Quest Diagnostics during the 2nd quarter worth approximately $28,000. Wealthcare Advisory Partners LLC bought a new position in Quest Diagnostics during the second quarter valued at $29,000. Berman Capital Advisors LLC lifted its position in Quest Diagnostics by 47.7% during the second quarter. Berman Capital Advisors LLC now owns 319 shares of the medical research company’s stock valued at $32,000 after purchasing an additional 103 shares during the last quarter. Penserra Capital Management LLC bought a new position in Quest Diagnostics during the first quarter valued at $42,000. Finally, Signaturefd LLC lifted its position in Quest Diagnostics by 74.7% during the first quarter. Signaturefd LLC now owns 505 shares of the medical research company’s stock valued at $45,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
Shares of NYSE:DGX traded down $0.32 during midday trading on Friday, reaching $102.83. The company had a trading volume of 728,811 shares, compared to its average volume of 996,379. The business’s 50 day moving average price is $101.38 and its 200 day moving average price is $95.03. The stock has a market cap of $13.75 billion, a PE ratio of 16.30, a P/E/G ratio of 2.07 and a beta of 0.88. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.58. Quest Diagnostics has a 1-year low of $78.95 and a 1-year high of $111.54.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 21st. Shareholders of record on Friday, October 4th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, October 3rd. Quest Diagnostics’s payout ratio is presently 33.60%.
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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