Quest Diagnostics (NYSE:DGX) Announce Quarter Dividend and Cost Cut Plan – DGX, DVAX, PFE, JNJ, BMY

Quest Diagnostics Inc (NYSE:DGX) announced on Friday that it is surging its quarterly dividend by 76 percent to 30 cents per share. It will be paid on Jan. 28.

The firm reported that it aims to cut costs by $500M in 2014. It will go out 2014 with a run-rate savings of $600M, increase from its previous target of $500M.

The company declared that they are refocusing on their core diagnostic information services business and on driving operational excellence and restoring growth.

Quest Diagnostics persists to anticipate adjusted 2012 earnings of $4.45 to $4.55 per share, prior to special items and the expected effect of Hurricane Sandy. Analysts anticipate earnings of $4.51 per share, according to a survey by FactSet.

Quest Diagnostics Inc (NYSE:DGX) stock hit highest price at $57.43, beginning with a price of $56.77 and reported increased +1.56% to $57.38 at 10.55AM EST with day range of $53.25-$64.87. The total market capitalization remained $9.12 billion, current volume was 484,342.00 shares surprisingly higher than its average volume of 841,467.00 shares.

To check the Stocks ups and downs, DGX last week stock price volatility remained 1.41% and month was at 1.73%. DGX generated revenue of 7.57 billion in the following twelve months income of $686.52 million. The Company showed a positive 9.58% in the net profit margin and in addition to in its operating margin which remained 16.74%. Company’s annual sales growth for the past five year was 3.68%.

The DGX past twelve months price to sales ratio was 1.19 and price to cash ratio remained 46.84. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained Dynavax Technologies Corporation (NASDAQ:DVAX)’s P/S 42.78% P/C 5.58%, Pfizer Inc. (NYSE:PFE)’s P/S 2.91% P/B 2.22%, Johnson & Johnson (NYSE:JNJ)’s P/S 2.89% P/C 9.63%, Bristol Myers Squibb Co. (NYSE:BMY)’s P/S 2.69% P/C 17.36%.

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Published by Steve Hackney

Steve Hackney is a corporate finance professional with over 14 years of experience in cash management and investing. He earned a Bachelor of Science in Finance from Florida State University and holds a Certified Treasury Professional certification. Steve lives in Orlando, Florida with his family.