Fannie Mae, Freddie Mac shares tumble after conservatorship comments
In a recent filing with the Securities and Exchange Commission, Quest Diagnostics Inc. (NYSE:DGX), a $19.16 billion healthcare diagnostics leader with a "GOOD" financial health rating according to InvestingPro, disclosed that Patrick Plewman, Senior Vice President for Diagnostic Services, sold 320 shares of the company’s common stock. The shares were sold on February 19 at a price of $169.71 each, resulting in a total transaction value of $54,307. Following this sale, Plewman retains ownership of 18,082 shares in the company. The transaction was carried out to cover tax withholding obligations from the vesting of restricted stock units. The stock currently trades near its 52-week high of $172.64, having delivered a remarkable 38.7% return over the past year. For comprehensive insider trading analysis and additional insights, access the detailed Quest Diagnostics Pro Research Report on InvestingPro.
In other recent news, Quest Diagnostics reported robust financial results for the fourth quarter of 2024, surpassing market expectations. The company achieved an adjusted earnings per share (EPS) of $2.23, exceeding the forecast of $2.19, and reported revenues of $2.62 billion, which also beat predictions of $2.58 billion. This performance was bolstered by a 14.5% year-over-year increase in consolidated revenues. Following these results, JPMorgan raised its price target for Quest Diagnostics to $180, maintaining a Neutral rating on the stock. The firm noted the strong performance of Quest’s clinical lab operations as a key factor in its revised outlook.
Quest Diagnostics also provided guidance for 2025, projecting revenues between $10.7 billion and $10.85 billion, with an expected organic growth rate of approximately 3%. The company anticipates an adjusted EPS ranging from $9.55 to $9.80. Additionally, Quest Diagnostics announced ongoing investments in IT and automation to support future growth, alongside compliance with upcoming FDA regulations. The company completed eight acquisitions in 2024, including LifeLabs in Canada, which contributed significantly to its revenue growth. Looking ahead, Quest Diagnostics continues to focus on expanding its advanced diagnostics and preventative health services, aligning with broader industry trends towards wellness and early detection.
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