Quest Diagnostics (DGX) Releases Earnings Results, Meets Expectations

Quest Diagnostics (NYSE:DGX) issued its quarterly earnings data on Thursday. The medical research company reported $1.52 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.52, Bloomberg Earnings reports. Quest Diagnostics had a net margin of 10.00% and a return on equity of 15.41%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same period in the previous year, the business earned $1.33 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. Quest Diagnostics updated its FY18 guidance to $6.50-6.70 EPS.

NYSE DGX traded up $0.70 on Friday, hitting $101.49. 1,628,593 shares of the company were exchanged, compared to its average volume of 1,014,046. The company has a current ratio of 1.24, a quick ratio of 1.15 and a debt-to-equity ratio of 0.76. The company has a market cap of $13,670.95, a PE ratio of 18.79, a PEG ratio of 1.90 and a beta of 0.70. Quest Diagnostics has a twelve month low of $90.10 and a twelve month high of $112.96.

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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.97%. The ex-dividend date was Tuesday, April 3rd. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s payout ratio is presently 37.04%.

A number of equities research analysts recently weighed in on DGX shares. Canaccord Genuity lifted their price objective on shares of Quest Diagnostics from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, March 19th. Zacks Investment Research upgraded shares of Quest Diagnostics from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Wednesday. Credit Suisse Group initiated coverage on shares of Quest Diagnostics in a research report on Friday, February 2nd. They issued a “neutral” rating and a $107.00 price target on the stock. Evercore ISI initiated coverage on shares of Quest Diagnostics in a research report on Thursday, January 4th. They issued an “in-line” rating and a $103.00 price target on the stock. Finally, Goldman Sachs initiated coverage on shares of Quest Diagnostics in a research report on Monday, January 29th. They issued a “buy” rating and a $117.00 price target on the stock. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $108.74.

In other Quest Diagnostics news, SVP Catherine T. Doherty sold 21,294 shares of Quest Diagnostics stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $104.00, for a total transaction of $2,214,576.00. Following the transaction, the senior vice president now owns 90,709 shares of the company’s stock, valued at approximately $9,433,736. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Stephen H. Rusckowski sold 106,840 shares of Quest Diagnostics stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $107.00, for a total value of $11,431,880.00. Following the transaction, the chairman now directly owns 272,956 shares in the company, valued at approximately $29,206,292. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,147 shares of company stock worth $24,032,439. Corporate insiders own 1.79% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Rockefeller Financial Services Inc. grew its stake in shares of Quest Diagnostics by 741,981.0% in the 4th quarter. Rockefeller Financial Services Inc. now owns 1,246,696 shares of the medical research company’s stock valued at $122,787,000 after buying an additional 1,246,528 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Quest Diagnostics by 73.1% in the 4th quarter. Bessemer Group Inc. now owns 2,107,796 shares of the medical research company’s stock valued at $207,596,000 after buying an additional 889,802 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Quest Diagnostics by 29.1% in the 4th quarter. Victory Capital Management Inc. now owns 2,487,295 shares of the medical research company’s stock valued at $244,974,000 after buying an additional 560,538 shares in the last quarter. Element Capital Management LLC bought a new stake in shares of Quest Diagnostics in the 4th quarter valued at approximately $44,275,000. Finally, American Century Companies Inc. grew its stake in shares of Quest Diagnostics by 16.8% in the 4th quarter. American Century Companies Inc. now owns 2,039,110 shares of the medical research company’s stock valued at $200,832,000 after buying an additional 293,611 shares in the last quarter. 88.64% of the stock is currently owned by institutional investors.

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Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.

Earnings History for Quest Diagnostics (NYSE:DGX)

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