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 Duncan Oleinic

Duncan Oleinic is from New Yourk. After graduating with a degree in physics, he began his career as an analyst in a broking firm. Through this experience he was able to advance to the role of correspondent for a U.S based financial news provider, where he worked from 2001 to 2007. He subsequently joined a merchant banking firm as a financial analyst focused on valuing unlisted companies in the sub-continent. Over the course of his two years here, he performed valuations of several media companies which were later acquired by peers.

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