Quest Diagnostics Inc (NYSE:DGX) – Research analysts at KeyCorp raised their Q3 2019 earnings per share estimates for Quest Diagnostics in a research report issued on Monday, February 18th. KeyCorp analyst D. Hooker now anticipates that the medical research company will post earnings of $1.79 per share for the quarter, up from their previous estimate of $1.71. KeyCorp also issued estimates for Quest Diagnostics’ Q4 2019 earnings at $1.47 EPS, FY2019 earnings at $6.43 EPS and FY2020 earnings at $6.79 EPS.
DGX has been the subject of several other reports. Zacks Investment Research lowered shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a report on Thursday, January 24th. Credit Suisse Group reissued a “buy” rating and set a $121.00 target price on shares of Quest Diagnostics in a research note on Sunday, December 2nd. Barclays reduced their target price on shares of Quest Diagnostics from $125.00 to $117.00 and set an “overweight” rating for the company in a research note on Friday, November 30th. Goldman Sachs Group lowered shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $110.00 to $90.00 in a research note on Friday, November 30th. Finally, Canaccord Genuity reissued a “buy” rating and set a $98.00 target price on shares of Quest Diagnostics in a research note on Friday, November 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $102.82.
Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Thursday, February 14th. The medical research company reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.01). Quest Diagnostics had a net margin of 9.77% and a return on equity of 15.23%. The business had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period last year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Quest Diagnostics during the 3rd quarter worth about $743,000. USS Investment Management Ltd raised its position in shares of Quest Diagnostics by 3.0% during the 4th quarter. USS Investment Management Ltd now owns 103,300 shares of the medical research company’s stock worth $8,603,000 after buying an additional 3,000 shares in the last quarter. CenturyLink Investment Management Co raised its position in shares of Quest Diagnostics by 10.3% during the 4th quarter. CenturyLink Investment Management Co now owns 12,861 shares of the medical research company’s stock worth $1,071,000 after buying an additional 1,196 shares in the last quarter. Tdam USA Inc. raised its position in shares of Quest Diagnostics by 9.4% during the 4th quarter. Tdam USA Inc. now owns 7,236 shares of the medical research company’s stock worth $603,000 after buying an additional 622 shares in the last quarter. Finally, Legacy Financial Advisors Inc. bought a new stake in shares of Quest Diagnostics during the 4th quarter worth about $45,000. 85.73% of the stock is owned by hedge funds and other institutional investors.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.41%. This is a positive change from Quest Diagnostics’s previous quarterly dividend of $0.50. The ex-dividend date was Monday, January 14th. 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'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.
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