$1.91 Billion in Sales Expected for Quest Diagnostics Inc (DGX) This Quarter
Equities analysts expect Quest Diagnostics Inc (NYSE:DGX) to announce $1.91 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Quest Diagnostics’ earnings. The lowest sales estimate is $1.88 billion and the highest is $1.97 billion. Quest Diagnostics posted sales of $1.90 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.5%. The firm is scheduled to issue its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that Quest Diagnostics will report full-year sales of $1.91 billion for the current financial year, with estimates ranging from $7.70 billion to $8.05 billion. For the next financial year, analysts expect that the firm will report sales of $8.01 billion per share, with estimates ranging from $7.83 billion to $8.25 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Quest Diagnostics.
Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings data on Thursday, February 1st. The medical research company reported $1.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.03. Quest Diagnostics had a return on equity of 15.41% and a net margin of 10.00%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter in the previous year, the business earned $1.31 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis.
Shares of Quest Diagnostics (DGX) traded up $1.92 during midday trading on Tuesday, reaching $98.34. The company’s stock had a trading volume of 1,516,223 shares, compared to its average volume of 996,362. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.15 and a current ratio of 1.24. Quest Diagnostics has a one year low of $90.10 and a one year high of $112.96. The stock has a market capitalization of $13,400.00, a PE ratio of 17.88, a P/E/G ratio of 1.81 and a beta of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 18th. Stockholders of record on Wednesday, April 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.45. Quest Diagnostics’s dividend payout ratio is 32.73%.
In related news, EVP J. E. Davis sold 63,880 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $98.68, for a total transaction of $6,303,678.40. Following the transaction, the executive vice president now owns 101,423 shares of the company’s stock, valued at $10,008,421.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Stephen H. Rusckowski sold 106,840 shares of the company’s stock in a transaction on Monday, January 29th. The stock was 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. Insiders have sold 192,014 shares of company stock valued at $19,950,134 in the last 90 days. Company insiders own 1.75% of the company’s stock.
A number of hedge funds have recently made changes to their positions in DGX. APG Asset Management N.V. grew its holdings in Quest Diagnostics by 156.0% during the third quarter. APG Asset Management N.V. now owns 2,683,901 shares of the medical research company’s stock worth $251,320,000 after acquiring an additional 1,635,700 shares during the period. Rockefeller Financial Services Inc. grew its holdings in Quest Diagnostics by 741,981.0% during the fourth quarter. Rockefeller Financial Services Inc. now owns 1,246,696 shares of the medical research company’s stock worth $122,787,000 after acquiring an additional 1,246,528 shares during the period. Bessemer Group Inc. grew its holdings in Quest Diagnostics by 73.1% during the fourth quarter. Bessemer Group Inc. now owns 2,107,796 shares of the medical research company’s stock worth $207,596,000 after acquiring an additional 889,802 shares during the period. Victory Capital Management Inc. grew its holdings in Quest Diagnostics by 29.1% during the fourth quarter. Victory Capital Management Inc. now owns 2,487,295 shares of the medical research company’s stock worth $244,974,000 after acquiring an additional 560,538 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in Quest Diagnostics by 24.1% during the third quarter. Janus Henderson Group PLC now owns 1,801,477 shares of the medical research company’s stock worth $168,690,000 after acquiring an additional 349,703 shares during the period. 89.17% of the stock is currently owned by hedge funds and other institutional investors.
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Quest Diagnostics Company Profile
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).
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