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why is dgx stock dropping

by Johnnie Funk Published 3 years ago Updated 2 years ago
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Apr 29, 2022 · The Quest Diagnostics Incorporated stock price fell by -1.47% on the last day (Friday, 29th Apr 2022) from $135.83 to $133.84. and has now fallen 3 days in a row. During the day the stock fluctuated 3.46% from a day low at $133.65 to a day high of $138.28. The price has fallen in 6 of the last 10 days and is down by -1.58% for this period.

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Is DGX a good investment?

On valuation, we believe that DGX is attractively valued at current levels and are reiterating our target price of $135. Our target implies a return of about 13% from current levels, including the dividend, and a P/E of 12-times our 2021 EPS estimate, still below the historical average.

Is DGX undervalued?

DGX's P/CF has been as high as 12.04 and as low as 6.33, with a median of 8.47, all within the past year. These are only a few of the key metrics included in Quest Diagnostics's strong Value grade, but they help show that the stock is likely undervalued right now.Oct 8, 2021

Is DGX a buy Zacks?

The Zacks database contains over 10,000 stocks. All of those stocks are classified into three groups: Sector, M Industry and X Industry.
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Momentum Scorecard. More Info.
Zacks RankDefinitionAnnualized Return
1Strong Buy24.93%
2Buy18.44%
3Hold9.99%
4Sell5.61%
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How many shares does Quest Diagnostics have?

Share Statistics
Avg Vol (3 month) 31.27M
Shares Outstanding 5122.67M
Implied Shares Outstanding 6N/A
Float 8122.01M
% Held by Insiders 10.51%
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Is Quest Diagnostics publicly traded?

Quest Diagnostics is an American clinical laboratory.
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Quest Diagnostics.
TypePublic
Traded asNYSE: DGX S&P 500 component
IndustryHealth care
FoundedNew York City, United States (1967)
FounderPaul Brown
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Is labcorp publicly traded?

Is Labcorp a public organization? Yes. Laboratory Corporation of America Holdings is listed on the New York Stock Exchange (NYSE) under ticker symbol LH.

Who are Quest Diagnostics stakeholders?

Top 10 Owners of Quest Diagnostics Inc
StockholderStakeShares bought / sold
The Vanguard Group, Inc.10.50%+111,608
BlackRock Fund Advisors5.65%+303,454
SSgA Funds Management, Inc.5.09%+144,251
Geode Capital Management LLC2.09%+29,288
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How much cash did quest diagnostics have in 2020?

Is quest diagnostics withdrawn?

Quest Diagnostics exited the second quarter of 2020 with cash and cash equivalents of $988 million compared with $342 million at the end of the first quarter. Cumulative net cash provided by operating activities through the second quarter was $602 million compared with $596 million in the year-ago reported quarter.

Signals & Forecast

Given the rapidly-changing uncertainties and likely outcomes of coronavirus, Quest Diagnostics had withdrawn its full-year guidance. This time however the company provided its 2020 projection. It reflects a number of assumptions that are subject to change based on uncertainties related to the impact of the COVID-19 pandemic.

Support, Risk & Stop-loss

The Quest Diagnostics Incorporated stock holds buy signals from both short and long-term moving averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average.

Is Quest Diagnostics Incorporated stock A Buy?

Quest Diagnostics Incorporated finds support from accumulated volume at $151.35 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

Quest Diagnostics Inc. (DGX-N) Rating

Quest Diagnostics Incorporated holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Quest Diagnostics Inc. (DGX-N) Frequently Asked Questions

Stockchase rating for Quest Diagnostics Inc. is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Quest Diagnostic (DGX) Raises View on COVID-19 Testing Surge

Quest Diagnostics Inc. is a American stock, trading under the symbol DGX-N on the New York Stock Exchange (DGX). It is usually referred to as NYSE:DGX or DGX-N

Quest Diagnostics Updates 2021 Outlook On Surging Demand Of COVID-19 Tests

Going by the current situation of daily increase in the coronavirus case count, Quest Diagnostics (DGX) expects COVID-19 molecular testing volumes to remain stronger through the rest of the year.

Quest Diagnostics hikes financial estimates on Delta variant testing boost

View more earnings on DGXSee more from BenzingaClick here for options trades from BenzingaWhy Is PharmaCyte Biotech Stock Moving Higher In Premarket Thursday?EXCLUSIVE: E-Commerce Tech Firm Boxed, Enters Malaysia With AEON Partnership© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Covid Testing Companies Rake in Big Bucks From Big Delta Numbers

Quest Diagnostics Inc. on Thursday raised its 2021 financial outlook on the heels of increased testing activity for Covid-19. Since the company issued its last projections on July 22, it's seen stronger-than-expected molecular testing volumes through the end of August. The surge of the Delta variant is expected to continue to boost testing volumes.

Quest Diagnostics Shows Rising Price Performance With Jump To 82 RS Rating

It's not in our nature to wish ill on any enterprise, so here's hoping these businesses find a prosperous future driven by some other revenue...

Quest Diagnostics (DGX) Acquires Florida-Based NLS Assets

Quest Diagnostics shows improving price performance, earning an upgrade to its IBD Relative Strength Rating from 79 to 82.

What Is Quest Diagnostics Incorporated's (NYSE:DGX) Share Price Doing?

Quest Diagnostics (DGX) expects the acquisition to broaden the company's spectrum in diagnostic innovation and insights.

Lower full-year 2018 revenue and earnings estimates cause investors to sour on the diagnostics services provider

Quest Diagnostics Incorporated ( NYSE:DGX ) saw a decent share price growth in the teens level on the NYSE over the...

What happened

Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights

So what

Shares of Quest Diagnostics ( NYSE:DGX) sank 9.3% as of 11:54 a.m. EST on Thursday. The diagnostics services provider gave updated full-year 2018 guidance after the market closed on Wednesday. And it wasn't good news.

Now what

In the big scheme of things, Quest Diagnostics' lower outlook doesn't matter very much. After all, the company only reduced its full-year 2018 revenue outlook by less than 1%. Quest's EPS guidance change reflected only a low-single-digit percentage drop from its previous forecast.

Recently Viewed Tickers

One thing to watch with Quest Diagnostics is how well things go once the company becomes part of the network for UnitedHealth Group beginning Jan. 1, 2019. This could generate better-than-expected revenue growth if the launch ramps up more quickly than anticipated.

Quest Diagnostics Inc

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Quest Diagnostics Posts Earnings Beat, Volume Down in Q2

  • Quest Diagnostics’ DGX second-quarter 2020 adjusted earnings per share of $1.42 beat the Zacks Consensus Estimate by a penny. Adjusted earnings however declined 17.9% from the year-ago number. Certain one-time expenses, like the ones related to the COVID-19 pandemic and their resultant impact including certain income recognized under the Coronaviru...
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Quarterly Details

  • Volumes (measured by the number of requisitions) declined 17.7% year over year in the second quarter (down 18.2% organically). Revenue per requisition however improved 15.3% year over year. Diagnostic information services revenues in the quarter were down 5.7% on a year-over-year basis to $1.76 billion.
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Margins

  • Cost of services during the reported quarter was $1.22 billion, down 3.5% year over year. Gross margin was 30.8%, reflecting contraction of 445 basis points (bps) from the year-ago figure. Adjusted operating margin of 10.4% represented a 632-bps contraction year over year. Selling, general and administrative expenses declined 0.6% to $360 million in the quarter under review.
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Cash, Capital Structure and Solvency

  • Quest Diagnostics exited the second quarter of 2020 with cash and cash equivalents of $988 million compared with $342 million at the end of the first quarter. Cumulative net cash provided by operating activities through the second quarter was $602 million compared with $596 million in the year-ago reported quarter. For the three months ended Mar 31, 2020, the company did not re…
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2020 Guidance Reinstated

  • Given the rapidly-changing uncertainties and likely outcomes of coronavirus, Quest Diagnostics had withdrawn its full-year guidance. This time however the company provided its 2020 projection. It reflects a number of assumptions that are subject to change based on uncertainties related to the impact of the COVID-19 pandemic. Going by the latest guidance, the company exp…
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