FY2018 EPS Estimates for Quest Diagnostics Incorporated Decreased by Analyst (DGX)

Quest Diagnostics Incorporated (NYSE:DGX) – Stock analysts at Gabelli decreased their FY2018 EPS estimates for Quest Diagnostics in a research report issued to clients and investors on Wednesday. Gabelli analyst S. Wojda now expects that the medical research company will post earnings of $5.85 per share for the year, down from their prior forecast of $6.00. Gabelli also issued estimates for Quest Diagnostics’ FY2019 earnings at $6.20 EPS, FY2020 earnings at $6.55 EPS and FY2021 earnings at $7.00 EPS.

Quest Diagnostics (NYSE:DGX) last announced its earnings results on Thursday, October 19th. The medical research company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.04. Quest Diagnostics had a return on equity of 15.53% and a net margin of 8.82%. The firm had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the company earned $1.37 EPS. The business’s revenue was up 2.4% compared to the same quarter last year.

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Several other research firms also recently weighed in on DGX. KeyCorp restated a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 27th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Wells Fargo & Company cut their price target on Quest Diagnostics from $88.00 to $86.00 and set a “market perform” rating on the stock in a research note on Friday, October 20th. Zacks Investment Research downgraded Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) downgraded Quest Diagnostics from a “conviction-buy” rating to a “buy” rating and cut their price target for the stock from $121.00 to $113.00 in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Quest Diagnostics presently has a consensus rating of “Hold” and a consensus price target of $106.18.

Shares of Quest Diagnostics (DGX) traded up $0.06 during trading hours on Thursday, hitting $92.52. The stock had a trading volume of 1,476,400 shares, compared to its average volume of 993,860. Quest Diagnostics has a 12-month low of $86.11 and a 12-month high of $112.96. The company has a market cap of $12,610.42, a price-to-earnings ratio of 16.58, a P/E/G ratio of 1.93 and a beta of 0.59. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.47 and a quick ratio of 1.37.

In other Quest Diagnostics news, Chairman Stephen H. Rusckowski sold 2,525 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $108.03, for a total transaction of $272,775.75. Following the sale, the chairman now directly owns 168,413 shares in the company, valued at approximately $18,193,656.39. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total value of $410,762.03. Following the sale, the director now owns 35,359 shares in the company, valued at $3,819,125.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 160,396 shares of company stock worth $17,343,852. Company insiders own 1.75% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DGX. US Bancorp DE raised its holdings in Quest Diagnostics by 0.9% during the second quarter. US Bancorp DE now owns 18,065 shares of the medical research company’s stock valued at $2,008,000 after acquiring an additional 156 shares during the period. Insight Capital Research & Management Inc. purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $240,000. Wagner Bowman Management Corp purchased a new position in shares of Quest Diagnostics during the second quarter valued at approximately $200,000. Regentatlantic Capital LLC boosted its position in shares of Quest Diagnostics by 0.6% during the second quarter. Regentatlantic Capital LLC now owns 9,257 shares of the medical research company’s stock valued at $1,029,000 after buying an additional 56 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Quest Diagnostics by 12.6% during the second quarter. Russell Investments Group Ltd. now owns 606,397 shares of the medical research company’s stock valued at $67,406,000 after buying an additional 67,706 shares during the period. 88.52% of the stock is currently owned by hedge funds and other institutional investors.

About Quest Diagnostics

Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).

Earnings History and Estimates for Quest Diagnostics (NYSE:DGX)

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