StockNews.com Downgrades Quest Diagnostics (NYSE:DGX) to Hold

StockNews.com downgraded shares of Quest Diagnostics (NYSE:DGX) from a buy rating to a hold rating in a report published on Wednesday.

A number of other equities analysts have also recently weighed in on DGX. JPMorgan Chase & Co. lifted their price target on Quest Diagnostics from $152.00 to $155.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. Citigroup raised their price objective on Quest Diagnostics from $135.00 to $145.00 and gave the stock a neutral rating in a research report on Wednesday, April 24th. Mizuho raised their price objective on Quest Diagnostics from $150.00 to $155.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Barclays raised their price objective on Quest Diagnostics from $138.00 to $144.00 and gave the stock an equal weight rating in a research report on Thursday, April 25th. Finally, Truist Financial raised their price objective on Quest Diagnostics from $145.00 to $150.00 and gave the stock a hold rating in a research report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $146.67.

Quest Diagnostics Trading Up 0.2 %

Shares of DGX opened at $138.60 on Wednesday. The business’s 50-day moving average price is $138.69 and its 200 day moving average price is $133.79. The stock has a market capitalization of $15.40 billion, a P/E ratio of 18.65, a P/E/G ratio of 3.00 and a beta of 0.89. Quest Diagnostics has a 1-year low of $119.59 and a 1-year high of $145.62. The company has a current ratio of 0.97, a quick ratio of 0.89 and a debt-to-equity ratio of 0.59.

Quest Diagnostics (NYSE:DGX) last issued its quarterly earnings results on Tuesday, April 23rd. The medical research company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.18. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. Quest Diagnostics’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $2.04 EPS. Analysts expect that Quest Diagnostics will post 8.79 earnings per share for the current year.

Quest Diagnostics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Stockholders of record on Monday, July 8th will be issued a dividend of $0.75 per share. The ex-dividend date is Monday, July 8th. This represents a $3.00 annualized dividend and a dividend yield of 2.16%. Quest Diagnostics’s dividend payout ratio is 40.38%.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,760 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $140.00, for a total value of $246,400.00. Following the completion of the sale, the senior vice president now directly owns 13,435 shares in the company, valued at approximately $1,880,900. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.79% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Quest Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its holdings in Quest Diagnostics by 103.3% in the 4th quarter. Raymond James & Associates now owns 148,251 shares of the medical research company’s stock worth $20,441,000 after purchasing an additional 75,315 shares during the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Quest Diagnostics in the 4th quarter worth approximately $1,483,000. Wellington Management Group LLP increased its position in Quest Diagnostics by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,613,793 shares of the medical research company’s stock worth $318,517,000 after buying an additional 333,947 shares during the period. The Manufacturers Life Insurance Company increased its position in Quest Diagnostics by 5.8% in the 4th quarter. The Manufacturers Life Insurance Company now owns 135,148 shares of the medical research company’s stock worth $18,634,000 after buying an additional 7,415 shares during the period. Finally, Pacer Advisors Inc. increased its position in Quest Diagnostics by 201.5% in the 4th quarter. Pacer Advisors Inc. now owns 31,912 shares of the medical research company’s stock worth $4,400,000 after buying an additional 21,327 shares during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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.