Quest Diagnostics (NYSE:DGX) Receives New Coverage from Analysts at Evercore ISI

Stock analysts at Evercore ISI began coverage on shares of Quest Diagnostics (NYSE:DGX) in a research note issued on Wednesday, Marketbeat.com reports. The firm set an “in-line” rating and a $165.00 price target on the medical research company’s stock. Evercore ISI’s price target points to a potential upside of 7.38% from the stock’s previous close.

DGX has been the topic of a number of other research reports. Piper Sandler upped their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lifted their price objective on shares of Quest Diagnostics from $152.00 to $155.00 and gave the company a “neutral” rating in a research report on Thursday, May 30th. Citigroup raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $165.00 in a report on Wednesday, July 10th. Barclays boosted their price target on Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Truist Financial raised their price objective on Quest Diagnostics from $150.00 to $158.00 and gave the company a “hold” rating in a research report on Monday, July 15th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $154.33.

Quest Diagnostics Price Performance

NYSE DGX opened at $153.66 on Wednesday. Quest Diagnostics has a 12-month low of $119.59 and a 12-month high of $154.71. The firm’s 50 day moving average is $144.95 and its 200-day moving average is $137.41. The company has a market capitalization of $17.07 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.57.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the business earned $2.30 EPS. The company’s revenue was up 2.5% compared to the same quarter last year. Equities research analysts anticipate that Quest Diagnostics will post 8.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $143.08, for a total transaction of $60,093.60. Following the sale, the senior vice president now owns 5,019 shares of the company’s stock, valued at approximately $718,118.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Quest Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue raised its holdings in Quest Diagnostics by 50.9% during the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock worth $5,562,000 after purchasing an additional 14,090 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Quest Diagnostics by 5.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock valued at $18,634,000 after acquiring an additional 7,415 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in Quest Diagnostics during the 4th quarter worth about $1,562,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Quest Diagnostics by 16.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 131,329 shares of the medical research company’s stock valued at $17,481,000 after buying an additional 18,642 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Quest Diagnostics by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock valued at $1,853,151,000 after acquiring an additional 345,754 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.