Quest Diagnostics Incorporated ($DGX) Stock Forecast: Down 5.1% Today

What is Quest Diagnostics Incorporated?

A leading provider of diagnostic testing, information, and services is Quest Diagnostics (DGX), which offers insights to healthcare providers. The healthcare market has seen positive sentiment due to increased focus on healthcare services and advancements in medical technology.

Why is Quest Diagnostics Incorporated going down?

DGX stock is down 5.1% on Jul 23, 2024 19:45

• Despite surpassing revenue expectations and raising its 2024 outlook, Quest Diagnostics (DGX) saw a decline in its stock price.
• The company's slight miss in GAAP EPS estimates may have influenced the negative market response, despite its strong base business growth.
• Investors might have anticipated higher earnings per share, prompting profit-taking and a temporary stock price drop.
• Concerns among market participants have arisen over the Q2 profit decrease, even though it outperformed estimates, indicating a potential necessity for cost management or operational enhancements for future growth.

DGX Price Chart

DGX News

DGX Stock Earnings: Quest Diagnostics Beats EPS, Beats Revenue for Q2 2024

Quest Diagnostics (NYSE:DGX) just reported results for the second quarter of 2024. Quest Diagnostics reported earnings per share of $2.35. This was above the analyst estimate for EPS of $2.34. The company reported revenue of $2.40 billion. This was 0.29% better than the analyst estimate for revenue of $2.39 billion. InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at editor@investorplace.com.

https://investorplace.com/earning-results/2024/07/dgx-stock-earnings-quest-diagnostics-for-q2-of-2024/

Quest Diagnostics ( DGX ) Tops Q2 Earnings, Raises 2024 Outlook

Quest Diagnostics (DGX) delivers impressive base business growth in the second quarter of 2024.

https://www.zacks.com/stock/news/2306998/quest-diagnostics-dgx-tops-q2-earnings-raises-2024-outlook

Quest Diagnostics Inc (DGX) Q2 2024 Earnings: Revenue of $2. ...

Quest Diagnostics Inc (DGX) Q2 2024 Earnings: Revenue of $2.40 Billion Beats Estimates, GAAP EPS of $2.03 Misses Estimates

https://www.gurufocus.com/news/2478776/quest-diagnostics-inc-dgx-q2-2024-earnings-revenue-of-240-billion-beats-estimates-gaap-eps-of-203-misses-estimates

Quest Diagnostics ( DGX ) Q2 Earnings and Revenues Top Estimates

Quest Diagnostics (DGX) delivered earnings and revenue surprises of 1.73% and 0.50%, respectively, for the quarter ended June 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2306599/quest-diagnostics-dgx-q2-earnings-and-revenues-top-estimates

Quest Diagnostics Q2 Profit Decreases, But Beats Estimates

WASHINGTON (dpa-AFX) - Quest Diagnostics (DGX) released earnings for second quarter that decreased from last year but beat the Street estimates.The company''s bottom line totaled $229 million, or $…

https://www.finanznachrichten.de/nachrichten-2024-07/62796239-quest-diagnostics-q2-profit-decreases-but-beats-estimates-020.htm

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Quest Diagnostics Incorporated Price History

29.03.2024 - DGX Stock was up 4.1%

• Quest Diagnostics (DGX) received a "buy" rating and an increased stock target, reflecting positive sentiment from analysts and investors.
• During Q1, the company experienced a notable surge in sales, surpassing estimates for adjusted EPS and achieving growth in total revenues for the first time in almost three years. This positive financial performance likely contributed to the stock's upward trend.
• Despite beating earnings expectations, Quest Diagnostics (DGX) observed a decrease in margins in Q1, which could raise concerns among investors. Nevertheless, the overall revenue growth and strong performance overshadowed this issue, pushing the stock towards a bullish market movement.

23.03.2024 - DGX Stock was up 7.7%

• Quest Diagnostics (DGX) exceeded Q1 earnings and revenue estimates, demonstrating strong financial performance.
• The company's first-quarter financial results showed increased revenues and raised guidance for the full year 2024, suggesting positive growth prospects.
• The market responded favorably to Quest Diagnostics surpassing expectations and revising its guidance upwards, leading to an increase in the stock price.
• Investor confidence in the company's future performance is evident from the bullish trend in the stock.

30.07.2023 - DGX Stock was up 0.8%

• The bullish movement in DGX stock today can be attributed to the following factors:
• 1. Breakthrough Device Designation: The FDA granting Breakthrough Device Designation to Quest Diagnostics' AAVrh74 ELISA assay (CDx) is a positive development for the company. This designation indicates that the test has the potential to provide a more effective diagnosis or treatment for a life-threatening or irreversibly debilitating disease. Investors may view this as a significant milestone that could lead to increased demand for Quest Diagnostics' services.
• 2. Support for Health Equity Event: Quest Diagnostics' support for the Health Empowerment and Wellness event hosted by Sisters on the Vineyard showcases the company's commitment to promoting health equity. This positive social impact may have resonated with investors and contributed to the bullish market movement.
• 3. Earnings Report: Despite the stock being down 0.9% since the last earnings report, it is important to note that this news is not directly related to the bullish market movement today. Investors may be focusing more on the recent positive developments, such as the FDA breakthrough designation, rather than past earnings performance.
• Overall, the bullish movement in DGX stock today can be attributed to the FDA breakthrough designation and the company's support for a health equity event, which reflect positive developments and potential growth opportunities for Quest Diagnostics.

26.09.2023 - DGX Stock was up 5.8%

• The bullish movement in DGX stock today can be attributed to several factors:
• 1. Upgraded rating: The upgrade by StockNews.com from a hold rating to a buy rating likely boosted investor confidence in Quest Diagnostics. This positive assessment suggests that the company's prospects are improving, leading to increased buying interest.
• 2. Licensing agreement: The announcement of an exclusive U.S. licensing agreement with Diadem SpA for its AlzoSure Predict Alzheimer's Disease Prognostic Technology indicates Quest Diagnostics' commitment to expanding its industry-leading portfolio of Alzheimer's disease blood tests. This news likely generated optimism among investors about the company's future growth potential.
• 3. Solid growth and optimistic future: Despite challenges, Quest Diagnostics reported solid growth and an optimistic future in its recent earnings call. This positive outlook may have contributed to the bullish movement in DGX stock as investors responded favorably to the company's performance and future prospects.
• 4. Moving past Covid: As the impact of Covid-related tests diminishes, Quest Diagnostics is expected to see a fall in earnings and revenues in FY2023. However, the fact that DGX stock is still rated as a hold suggests that investors may have already priced in this anticipated decline, leading to a more positive sentiment in the market.
• Overall, the bullish movement in DGX stock today can be attributed to positive factors such as an upgraded rating, a licensing agreement, solid growth, and an optimistic future outlook, despite the challenges posed by the decline in Covid-related tests.

31.06.2023 - DGX Stock was down 0.5%

• The bearish movement in DGX stock today could be attributed to the launch of Quest Diagnostics' blood test for assessing the risk of developing Alzheimer's disease. While this may seem like a positive development, it could be perceived as a potential threat to the company's revenue streams. Here's why:
• The availability of a direct-to-consumer blood test for Alzheimer's disease could lead to a decrease in demand for traditional diagnostic testing services offered by Quest Diagnostics.
• The introduction of this blood test may also indicate increased competition in the market, as other companies could develop similar tests, potentially impacting Quest Diagnostics' market share.
• Investors might be concerned about the potential regulatory and legal implications associated with offering a consumer-initiated blood test for a complex disease like Alzheimer's.
• Overall, the bearish movement in DGX stock today could be a result of investors' cautious outlook on the potential impact of the new Alzheimer's blood test on Quest Diagnostics' business.

23.05.2023 - DGX Stock was up 1.8%

• DGX had a strong bullish movement today.
• The completion of the acquisition of Haystack Oncology and the partnership to offer new testing services are positive news for DGX.
• The expansion of DGX's cancer portfolio through the use of MRD technology and the latest testing service that indicates how different genes and their variants affect how a person reacts to drugs are likely contributing factors to the bullish movement.
• Overall, the market seems to be responding positively to DGX's efforts to expand its services and offerings in the healthcare industry.

23.06.2024 - DGX Stock was down 5.5%

• Despite surpassing revenue expectations, DGX recorded a downturn in profits during the second quarter.
• The failure to meet GAAP EPS predictions could be a factor in the stock's decline.
• Investors' reactions may have been unfavorable due to a slight drop in reported diluted earnings per share for the quarter.
• The market's response might also be linked to the company's adjusted diluted EPS performance and its revised full-year revenue outlook.

23.06.2024 - DGX Stock was down 5.1%

• Despite surpassing revenue expectations and raising its 2024 outlook, Quest Diagnostics (DGX) saw a decline in its stock price.
• The company's slight miss in GAAP EPS estimates may have influenced the negative market response, despite its strong base business growth.
• Investors might have anticipated higher earnings per share, prompting profit-taking and a temporary stock price drop.
• Concerns among market participants have arisen over the Q2 profit decrease, even though it outperformed estimates, indicating a potential necessity for cost management or operational enhancements for future growth.