Quest Diagnostics Incorporated (NYSE:DGX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Quest Diagnostics Incorporated (NYSE:DGX) have been given an average recommendation of “Moderate Buy” by the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $169.15.

Several research analysts recently issued reports on the stock. Barclays upped their price target 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. Truist Financial raised their price target on shares of Quest Diagnostics from $158.00 to $165.00 and gave the company a “hold” rating in a report on Monday, October 7th. StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Morgan Stanley raised Quest Diagnostics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. Finally, Bank of America boosted their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, December 13th.

Insider Transactions at Quest Diagnostics

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

Institutional Investors Weigh In On Quest Diagnostics

Large investors have recently made changes to their positions in the stock. Mizuho Securities USA LLC increased its holdings in Quest Diagnostics by 5,168.5% during the third quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company’s stock worth $70,080,000 after buying an additional 442,835 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Quest Diagnostics by 222.0% in the second quarter. Point72 Asset Management L.P. now owns 299,740 shares of the medical research company’s stock valued at $41,028,000 after buying an additional 206,640 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Quest Diagnostics in the second quarter valued at approximately $22,049,000. BNP Paribas Financial Markets boosted its stake in shares of Quest Diagnostics by 25.4% during the 3rd 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, Dimensional Fund Advisors LP increased its holdings in shares of Quest Diagnostics by 6.5% during the 2nd 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 last quarter. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $152.63 on Friday. The stock has a market capitalization of $17.04 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.69 and a beta of 0.89. The firm’s 50-day moving average price is $157.42 and its two-hundred day moving average price is $151.19. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Quest Diagnostics has a 1-year low of $123.04 and a 1-year high of $165.32.

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

Quest Diagnostics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Tuesday, January 14th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

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.