Brokerages Set Quest Diagnostics Incorporated (NYSE:DGX) Price Target at $172.15

Quest Diagnostics Incorporated (NYSE:DGX) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $172.15.

Several research analysts have issued reports on the stock. StockNews.com raised shares of Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Wednesday. Barclays upped their price objective on Quest Diagnostics from $154.00 to $168.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 23rd. Piper Sandler lifted their target price on Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Finally, UBS Group lifted their price objective on Quest Diagnostics from $165.00 to $166.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd.

Quest Diagnostics Price Performance

Shares of NYSE:DGX opened at $155.32 on Thursday. The company has a market capitalization of $17.34 billion, a PE ratio of 20.88, a PEG ratio of 2.36 and a beta of 0.90. The business has a fifty day moving average price of $155.54 and a 200-day moving average price of $153.42. Quest Diagnostics has a 1-year low of $123.04 and a 1-year high of $165.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17.

Quest Diagnostics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th were given a $0.75 dividend. The ex-dividend date was Tuesday, January 14th. This represents a $3.00 annualized dividend and a yield of 1.93%. Quest Diagnostics’s payout ratio is presently 40.32%.

Insider Transactions at Quest Diagnostics

In other news, CAO Michael J. Deppe sold 18,755 shares of Quest Diagnostics stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

Several large investors have recently added to or reduced their stakes in DGX. State Street Corp raised its position in shares of Quest Diagnostics by 1.4% during the 3rd quarter. State Street Corp now owns 5,263,231 shares of the medical research company’s stock valued at $817,117,000 after purchasing an additional 70,578 shares during the period. Geode Capital Management LLC raised its holdings in Quest Diagnostics by 1.5% during the third quarter. Geode Capital Management LLC now owns 2,616,653 shares of the medical research company’s stock valued at $404,838,000 after acquiring an additional 39,217 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Quest Diagnostics by 2.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 748,680 shares of the medical research company’s stock valued at $115,621,000 after acquiring an additional 15,047 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Quest Diagnostics by 25.4% in the third quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company’s stock worth $116,018,000 after acquiring an additional 151,365 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Quest Diagnostics by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 708,100 shares of the medical research company’s stock worth $109,933,000 after purchasing an additional 12,565 shares in the last quarter. Hedge funds and other institutional investors own 88.06% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.