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Quest Diagnostics Incorporated (NYSE:DGX), a leader in diagnostic testing, information, and services, has reached an all-time high, with its stock price soaring to $176.53. With a market capitalization of $19.56 billion and a robust financial health score rated as "GOOD" by InvestingPro, the company has demonstrated remarkable stability. This milestone reflects a significant uptrend in the company’s market performance, marking a 41.6% increase over the past year, with a notable 15.17% gain year-to-date. Investors have shown growing confidence in Quest Diagnostics, which has maintained dividend payments for 22 consecutive years and raised them for 13 straight years, as the company continues to expand its services and leverage technological advancements to enhance patient care and outcomes. The all-time high represents a culmination of strategic initiatives that have successfully driven growth and shareholder value, positioning Quest Diagnostics as a robust player in the healthcare industry. Trading at a P/E ratio of 22.48, current analysis suggests the stock may be trading above its Fair Value. For deeper insights and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
In other recent news, Quest Diagnostics reported strong financial results for the fourth quarter of 2024, surpassing earnings expectations with an adjusted earnings per share (EPS) of $2.23, exceeding the forecast of $2.19. The company’s revenue also outperformed projections, reaching $2.62 billion against the anticipated $2.58 billion, marking a 14.5% year-over-year increase in consolidated revenues. Following these results, JPMorgan updated their financial outlook on Quest Diagnostics, raising the price target to $180 from the previous $173 while maintaining a Neutral stock rating. This adjustment was influenced by the company’s robust performance in clinical lab operations and a stable growth outlook. Despite the positive earnings, the 2025 adjusted EPS guidance was slightly below expectations due to higher interest expenses and share count assumptions. However, JPMorgan revised the revenue forecast for 2025 upwards to $10.776 billion, reflecting optimism about continued volume strength and operational margin expansion. Quest Diagnostics’ guidance for 2025 projects revenue between $10.7 billion and $10.85 billion, with an expected organic growth rate of approximately 3%. The company continues to invest in IT infrastructure and compliance with FDA regulations to support future growth.
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