Quest Diagnostics (NYSE:DGX) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Quest Diagnostics (NYSE:DGX) from a hold rating to a buy rating in a research note released on Tuesday.

A number of other equities research analysts have also recently weighed in on DGX. Evercore ISI started coverage on shares of Quest Diagnostics in a report on Wednesday, August 28th. They issued an “in-line” rating and a $165.00 price objective on the stock. Truist Financial upped their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Barclays upped their price objective on shares of Quest Diagnostics from $144.00 to $154.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 27th. Robert W. Baird upped their price objective on shares of Quest Diagnostics from $153.00 to $154.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Piper Sandler upped their price objective on shares of Quest Diagnostics from $145.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $154.92.

Quest Diagnostics Price Performance

DGX stock opened at $148.94 on Tuesday. Quest Diagnostics has a 1 year low of $120.87 and a 1 year high of $159.36. The company has a market cap of $16.55 billion, a P/E ratio of 20.05, a PEG ratio of 2.45 and a beta of 0.89. The firm has a 50-day moving average of $152.66 and a 200 day moving average of $143.82. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.91.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, July 23rd. The medical research company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Quest Diagnostics had a net margin of 8.99% and a return on equity of 15.35%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the firm earned $2.30 earnings per share. Quest Diagnostics’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts forecast that Quest Diagnostics will post 8.89 EPS for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 21st. Stockholders of record on Friday, October 4th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, October 4th. Quest Diagnostics’s payout ratio is 40.38%.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $143.08, for a total value of $60,093.60. Following the sale, the senior vice president now owns 5,019 shares in the company, valued at approximately $718,118.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Quest Diagnostics news, SVP Karthik Kuppusamy sold 1,990 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total value of $304,987.40. Following the transaction, the senior vice president now directly owns 11,459 shares in the company, valued at approximately $1,756,206.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark E. Delaney sold 420 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 5,019 shares in the company, valued at $718,118.52. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Quest Diagnostics by 2.5% in the first quarter. Vanguard Group Inc. now owns 13,921,955 shares of the medical research company’s stock worth $1,853,151,000 after acquiring an additional 345,754 shares during the period. Wellington Management Group LLP raised its position in Quest Diagnostics by 0.7% in the fourth quarter. Wellington Management Group LLP now owns 2,632,326 shares of the medical research company’s stock worth $362,945,000 after acquiring an additional 18,533 shares during the period. Davis Selected Advisers raised its position in Quest Diagnostics by 0.4% in the second quarter. Davis Selected Advisers now owns 2,390,828 shares of the medical research company’s stock worth $327,257,000 after acquiring an additional 9,665 shares during the period. Dimensional Fund Advisors LP raised its position in Quest Diagnostics by 6.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,109,515 shares of the medical research company’s stock worth $288,758,000 after acquiring an additional 129,395 shares during the period. Finally, Nuance Investments LLC raised its position in shares of Quest Diagnostics by 13.1% during the 1st quarter. Nuance Investments LLC now owns 681,636 shares of the medical research company’s stock valued at $90,733,000 after purchasing an additional 79,152 shares during the period. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Company Profile

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.