Canaccord Genuity Q2 Preview on Quest Diagnostics (NYSE: DGX): Sidelined Until More Confident in New CEO's Ability
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Price: $61.89 -0.8%
Rating Summary:
3 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Rating Summary:
3 Buy, 15 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 19 | New: 22
Trade DGX Now!
Canaccord Genuity maintains a 'Hold' on Quest Diagnostics (NYSE: DGX) price target of $60.00.
Analyst, Jeffrey Frelick, said, "We expect DGX to report Q2 sales of $1,938M (+1.8%), in line with consensus of $1,941M, and Adj. EPS of $1.22 (+9%), above consensus of $1.17."
"We are on the sidelines until we gain more confidence in the new CEO’s ability to drive better-than-expected operating margin improvement. While we think that volumes have likely troughed in the lab industry, volumes have been under pressure. Pricing has come under pressure in the way of Medicare cuts and highly competitive bidding from commercial payors."
For an analyst ratings summary and ratings history on Quest Diagnostics click here. For more ratings news on Quest Diagnostics click here.
Shares of Quest Diagnostics closed at $60.78 yesterday, with a 52 week range of $45.13-$62.32.
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Analyst, Jeffrey Frelick, said, "We expect DGX to report Q2 sales of $1,938M (+1.8%), in line with consensus of $1,941M, and Adj. EPS of $1.22 (+9%), above consensus of $1.17."
"We are on the sidelines until we gain more confidence in the new CEO’s ability to drive better-than-expected operating margin improvement. While we think that volumes have likely troughed in the lab industry, volumes have been under pressure. Pricing has come under pressure in the way of Medicare cuts and highly competitive bidding from commercial payors."
For an analyst ratings summary and ratings history on Quest Diagnostics click here. For more ratings news on Quest Diagnostics click here.
Shares of Quest Diagnostics closed at $60.78 yesterday, with a 52 week range of $45.13-$62.32.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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