Quest Diagnostics Incorporated (NYSE: DGX) Expected to Earn $ 2.98 per Share in Q1 2022
Quest Diagnostics Incorporated (NYSE: DGX) – KeyCorp released its first quarter 2022 BPA estimates for Quest Diagnostics stocks in a report released on Sunday, December 12. KeyCorp analyst D. Hooker predicts the medical research firm will earn $ 2.98 per share for the quarter. KeyCorp is currently “overweight” and has a target price of $ 170.00 on the stock. KeyCorp also released Quest Diagnostics second quarter 2022 earnings estimates at $ 2.69 per share, third quarter 2022 earnings at $ 2.49 per share, and year 2022 earnings at $ 10.28 per share. action. Quest Diagnostics (NYSE: DGX) last released its results on Wednesday, October 20. The medical research firm reported EPS of $ 3.96 for the quarter, topping Thomson Reuters consensus estimate of $ 2.88 by $ 1.08. Quest Diagnostics had a net margin of 19.77% and a return on equity of 31.20%. The company posted revenue of $ 2.77 billion in the quarter, compared to analysts’ expectations of $ 2.52 billion. In the same quarter of last year, the company made EPS of $ 4.31. The company’s revenue was down 0.6% year-over-year.
Several other analysts also recently commented on DGX. Mizuho raised his Quest Diagnostics stock price target from $ 158.00 to $ 166.00 and gave the company a “buy” rating in a research note on Thursday, August 19. Morgan Stanley raised its price target for Quest Diagnostics shares from $ 136.00 to $ 165.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 31. Citigroup raised its price target for Quest Diagnostics shares from $ 158.00 to $ 181.00 and gave the company a “buy” rating in a research note on Friday, September 10. Deutsche Bank Aktiengesellschaft raised its price target for Quest Diagnostics shares from $ 150.00 to $ 160.00 and gave the company a “buy” rating in a research note on Friday, October 22. Finally, Wells Fargo & Company raised its price target for Quest Diagnostics shares from $ 150.00 to $ 160.00 and gave the company an “equal weight” rating in a research note on Tuesday. Four investment analysts gave the stock a conservation rating and seven gave the company a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $ 160.45.
DGX stock opened at $ 164.43 on Wednesday. Quest Diagnostics has a one-year minimum of $ 113.36 and a one-year maximum of $ 165.37. The stock has a market cap of $ 20.17 billion, a PE ratio of 9.88 and a beta of 1.00. The company has a leverage ratio of 0.62, a quick ratio of 1.51, and a current ratio of 1.62. The company has a fifty-day moving average of $ 148.47 and a 200-day moving average of $ 144.15.
A number of institutional investors have recently increased or reduced their holdings in DGX. Amundi acquired a new stake in Quest Diagnostics in the second quarter for a value of approximately $ 224,881,000. BlackRock Inc. increased its stake in Quest Diagnostics by 7.5% in the third quarter. BlackRock Inc. now owns 11,625,245 shares of the medical research company valued at $ 1,689,266,000 after purchasing an additional 806,359 shares during the period. Renaissance Technologies LLC increased its stake in Quest Diagnostics by 413.7% in the third quarter. Renaissance Technologies LLC now owns 967,300 shares of the medical research company valued at $ 140,558,000 after purchasing an additional 779,000 shares during the period. Goldman Sachs Group Inc. increased its stake in Quest Diagnostics by 80.9% in the third quarter. Goldman Sachs Group Inc. now owns 1,334,563 shares of the medical research company valued at $ 193,926,000 after purchasing an additional 596,838 shares during the period. Finally, Morgan Stanley increased its stake in Quest Diagnostics by 38.1% in the second quarter. Morgan Stanley now owns 2,056,324 shares of the medical research company valued at $ 271,372,000 after purchasing an additional 567,239 shares during the period. Hedge funds and other institutional investors hold 91.51% of the company’s shares.
In addition, SVP Catherine T. Doherty sold 37,565 Quest Diagnostics shares in a trade dated Monday, November 29. The shares were sold at an average price of $ 156.81, for a total trade of $ 5,890,567.65. The sale was disclosed in a file with the Securities & Exchange Commission, accessible through the SEC website. Insiders own 1.45% of the shares of the company.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 2. Shareholders of record on Wednesday, January 19 will receive a dividend of $ 0.62 per share. This represents a dividend of $ 2.48 on an annualized basis and a return of 1.51%. The ex-dividend date is Tuesday, January 18. Quest Diagnostics’ payout ratio is currently 14.89%.
About Quest Diagnostics
Quest Diagnostics, Inc is engaged in the provision of diagnostic tests, information, and services. It operates through Diagnostic Information Services (DIS) and all other segments. The DIS segment provides diagnostic information services to patients, clinicians, hospitals, health plans and employers.
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