Equities Analysts Set Expectations for Quest Diagnostics Inc’s FY2022 Earnings (DGX)

Quest Diagnostics Inc (NYSE:DGX) – Stock analysts at Gabelli issued their FY2022 EPS estimates for shares of Quest Diagnostics in a report issued on Friday. Gabelli analyst S. Wojda anticipates that the medical research company will post earnings per share of $8.40 for the year.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Thursday, February 1st. The medical research company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.03. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis.

Several other equities analysts have also issued reports on DGX. Goldman Sachs Group lowered shares of 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 report on Tuesday, October 10th. Wells Fargo & Co started coverage on shares of Quest Diagnostics in a research note on Thursday, October 12th. They set a “market perform” rating and a $88.00 price objective for the company. SunTrust Banks set a $105.00 price objective on shares of Quest Diagnostics and gave the stock a “hold” rating in a research note on Sunday, October 15th. Craig Hallum reiterated a “hold” rating and set a $100.00 price objective (down from $110.00) on shares of Quest Diagnostics in a research note on Tuesday, October 17th. Finally, Mizuho set a $103.00 price objective on shares of Quest Diagnostics and gave the stock a “buy” rating in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Quest Diagnostics currently has an average rating of “Hold” and an average price target of $107.40.

Quest Diagnostics (NYSE:DGX) traded up $1.18 during midday trading on Monday, reaching $101.28. 1,080,671 shares of the company’s stock traded hands, compared to its average volume of 981,300. The company has a quick ratio of 1.15, a current ratio of 1.24 and a debt-to-equity ratio of 0.76. Quest Diagnostics has a fifty-two week low of $90.10 and a fifty-two week high of $112.96. The stock has a market capitalization of $13,640.00, a price-to-earnings ratio of 18.13, a P/E/G ratio of 1.88 and a beta of 0.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Robeco Institutional Asset Management B.V. increased its stake in shares of Quest Diagnostics by 4.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,092,810 shares of the medical research company’s stock worth $102,331,000 after purchasing an additional 48,921 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Quest Diagnostics during the third quarter worth about $446,000. AXA increased its stake in shares of Quest Diagnostics by 38.7% during the third quarter. AXA now owns 80,875 shares of the medical research company’s stock worth $7,573,000 after purchasing an additional 22,575 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Quest Diagnostics during the 2nd quarter valued at about $1,634,000. Finally, Schwab Charles Investment Management Inc. grew its stake in Quest Diagnostics by 4.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 510,114 shares of the medical research company’s stock valued at $47,768,000 after acquiring an additional 22,798 shares in the last quarter. 89.17% of the stock is owned by institutional investors.

In other Quest Diagnostics news, SVP Catherine T. Doherty sold 21,294 shares of Quest Diagnostics stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $104.00, for a total value of $2,214,576.00. Following the completion of the transaction, the senior vice president now owns 90,709 shares of the company’s stock, valued at $9,433,736. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP J. E. Davis sold 63,880 shares of Quest Diagnostics stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the completion of the transaction, the executive vice president now directly owns 101,423 shares of the company’s stock, valued at approximately $10,008,421.64. The disclosure for this sale can be found here. Insiders sold 192,014 shares of company stock valued at $19,950,134 in the last ninety days. 1.75% of the stock is owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be issued a $0.50 dividend. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 1.97%. Quest Diagnostics’s payout ratio is presently 32.73%.

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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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