Quest Diagnostics (NYSE:DGX) Stock Price Expected to Rise, Bank of America Analyst Says

Quest Diagnostics (NYSE:DGX) had its target price boosted by equities researchers at Bank of America from $179.00 to $182.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the medical research company’s stock. Bank of America‘s price target indicates a potential upside of 17.42% from the company’s previous close.

Several other brokerages have also recently weighed in on DGX. Jefferies Financial Group reissued a “buy” rating and issued a $185.00 price target (up previously from $175.00) on shares of Quest Diagnostics in a research note on Tuesday, December 10th. Piper Sandler increased their target price on shares of Quest Diagnostics from $150.00 to $165.00 and gave the company a “neutral” rating in a research report on Monday, October 28th. Citigroup boosted their price target on shares of Quest Diagnostics from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their price objective on shares of Quest Diagnostics from $154.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 23rd. Finally, Baird R W upgraded shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Nine analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $168.92.

Quest Diagnostics Stock Down 0.7 %

Shares of NYSE DGX opened at $155.00 on Friday. The company has a 50 day simple moving average of $156.57 and a 200 day simple moving average of $150.29. 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 has a 1 year low of $123.04 and a 1 year high of $165.32. The firm has a market cap of $17.30 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 2.69 and a beta of 0.89.

Quest Diagnostics (NYSE:DGX) last released its quarterly earnings results on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a net margin of 8.82% and a return on equity of 15.25%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the firm earned $2.22 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts forecast that Quest Diagnostics will post 8.9 EPS for the current year.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $156.92, for a total value of $278,533.00. Following the transaction, the senior vice president now owns 9,734 shares of the company’s stock, valued at approximately $1,527,459.28. This trade represents a 15.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total value of $2,889,207.75. Following the sale, the chief accounting officer now directly owns 34,941 shares of the company’s stock, valued at $5,382,661.05. This represents a 34.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. lifted its stake in Quest Diagnostics by 751.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 49,368 shares of the medical research company’s stock valued at $6,757,000 after acquiring an additional 43,569 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Quest Diagnostics by 35.7% in the second quarter. Blue Trust Inc. now owns 1,303 shares of the medical research company’s stock valued at $173,000 after acquiring an additional 343 shares in the last quarter. Brookstone Capital Management bought a new stake in Quest Diagnostics during the second quarter worth $353,000. Fifth Third Bancorp boosted its position in Quest Diagnostics by 15.2% in the second quarter. Fifth Third Bancorp now owns 3,607 shares of the medical research company’s stock worth $494,000 after purchasing an additional 475 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in Quest Diagnostics in the 2nd quarter valued at $2,805,000. Hedge funds and other institutional investors own 88.06% of the company’s stock.

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.