Quest Diagnostics DGX-Share

Quest Diagnostic recently launched aid to underserved communities following the impact of COVID-19

Quest Diagnostics Incorporated (NYSE: DGX) provides access to diagnostic testing services for cancer, cardiovascular diseases, infectious diseases, neurological disorders, and drugs. On July 12, the company announced its Tackle Your Testing program to address the health inequalities worsened by delayed treatment or diagnosis during the COVID-19 pandemic. Organizations will provide diagnostic testing, training, and nutritious meals at several events across the country to help address the impact of the pandemic on underserved communities.

Quest Diagnostics will announce second quarter results prior to market opening on Thursday July 22nd. DGX has significantly exceeded earnings expectations in all four of its largest earnings reports of the past year. However, only two of these reports showed positive changes after the win; an increase of 2.8% in April and an increase of 2.9% in October. In the last eight quarters, the share recorded a rather subdued after-profit movement of 3.1% on average, regardless of direction.

On the charts, the DGX 2021 was almost 14%. Shares fell sharply from their May 10 record high of $ 142.80, but the $ 126 level – which coincides with their 100-day moving average – contained the damage. Quest Diagnostics stock also has a forward dividend of $ 2.48 and a dividend yield of 1.83%.

DGX share chart

There is also modest short covering potential for the stock. Short rates declined 10% over the top two periods under review, but the 9.31 million short stocks sold accounted for a healthy 7.2% of DGX’s total available free float. At the stock’s average trading pace, it would be eight days for shorts to buy back their bearish bets.

Quest Diagnostics has increased its revenue by 9.5% in the past 12 months and increased its net income by approximately 26% year over year over the past 12 months. Additionally, revenue has increased 37% and net income has increased 145% since fiscal 2018. In principle, the Quest Diagnostics share offers appropriate long-term potential as a value and dividend game. DGX is currently trading at a very attractive price-earnings-ratio of 10.29.

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