Quest Diagnostics (DGX)

Feb 3, 2022Trade Ideas

Keep an eye on Quest Diagnostics (DGX).

Wildly oversold on RSI, MACD, and Williams’ %R, the stock just found support dating back to June 2021. From a current price of $135.91, we’d like to see it refill its bearish gap around $154, near-term. Plus, if you pull up a two-year chart of DGX, you can see it’s still maintaining a strong uptrend since June 2020.

While company net revenue recently fell, revenue beat estimates. In its fourth quarter, net income fell to $390 million, or $3.12 a share from $579 million, or $4.21 a year earlier. Adjusted net income dropped to $3.33 from $4.48 year over year. And revenue dropped about 9% to $2.74 billion. Analysts were looking for $3.22 on revenue of $2.68 billion.

DGX raised its dividend to 66 cents — payable April 20 to shareholders of record as of April 6.

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