Shares of Quest Diagnostics Incorporated (NYSE:DGX – Get Free Report) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $159.94 and last traded at $157.47, with a volume of 145830 shares traded. The stock had previously closed at $157.47.
The medical research company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company earned $2.22 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis.
Quest Diagnostics Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, October 21st. Stockholders of record on Friday, October 4th were issued a $0.75 dividend. The ex-dividend date was Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.91%. Quest Diagnostics’s payout ratio is presently 40.38%.
Analyst Upgrades and Downgrades
View Our Latest Research Report on DGX
Insider Activity
In other news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $153.26, for a total value of $304,987.40. Following the completion of the sale, the senior vice president now directly owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.79% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in DGX. Van Lanschot Kempen Investment Management N.V. bought a new position in shares of Quest Diagnostics in the 2nd quarter worth $48,783,000. M&G Plc bought a new position in shares of Quest Diagnostics in the 1st quarter worth $46,432,000. Vanguard Group Inc. boosted its position in shares of Quest Diagnostics by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after purchasing an additional 345,754 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in shares of Quest Diagnostics by 601.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 277,561 shares of the medical research company’s stock worth $37,993,000 after purchasing an additional 238,007 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Quest Diagnostics by 222.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock worth $41,028,000 after purchasing an additional 206,640 shares during the last quarter. 88.06% of the stock is currently owned by institutional investors.
Quest Diagnostics Price Performance
The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.91 and a current ratio of 1.00. The firm has a market capitalization of $17.45 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.45 and a beta of 0.89. The company has a 50-day moving average price of $152.88 and a 200-day moving average price of $144.48.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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