Quest Diagnostics (NYSE:DGX) Upgraded to “Outperform” by Robert W. Baird

Robert W. Baird upgraded shares of Quest Diagnostics (NYSE:DGX) from a neutral rating to an outperform rating in a research report released on Wednesday, Marketbeat reports. The brokerage currently has $182.00 price target on the medical research company’s stock, up from their previous price target of $157.00.

Other analysts have also issued research reports about the stock. Truist Financial boosted their price objective on shares of Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a research report on Monday, October 7th. Citigroup upgraded shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $145.00 to $165.00 in a research note on Wednesday, July 10th. Barclays lifted their target price on Quest Diagnostics from $144.00 to $154.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 27th. Evercore ISI started coverage on Quest Diagnostics in a research report on Wednesday, August 28th. They set an “in-line” rating and a $165.00 price target for the company. Finally, StockNews.com raised Quest Diagnostics from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Quest Diagnostics currently has an average rating of “Hold” and an average price target of $163.33.

Quest Diagnostics Trading Down 1.9 %

DGX opened at $155.04 on Wednesday. The firm’s fifty day simple moving average is $153.12 and its 200 day simple moving average is $144.75. The stock has a market capitalization of $17.22 billion, a P/E ratio of 20.87, a P/E/G ratio of 2.45 and a beta of 0.89. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.57. Quest Diagnostics has a 12 month low of $123.04 and a 12 month high of $160.95.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings data on Tuesday, October 22nd. The medical research company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.04. Quest Diagnostics had a return on equity of 15.35% and a net margin of 8.99%. The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $2.22 earnings per share. Quest Diagnostics’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Quest Diagnostics will post 8.89 EPS for the current fiscal year.

Quest Diagnostics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 21st. Shareholders of record on Friday, October 4th were given a dividend of $0.75 per share. The ex-dividend date was Friday, October 4th. This represents a $3.00 dividend on an annualized basis and a yield of 1.93%. Quest Diagnostics’s dividend payout ratio (DPR) is 40.38%.

Insider Activity

In related news, SVP Karthik Kuppusamy sold 1,990 shares of Quest Diagnostics stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $153.26, for a total transaction of $304,987.40. Following the completion of the sale, the senior vice president now owns 11,459 shares of the company’s stock, valued at approximately $1,756,206.34. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.79% of the company’s stock.

Hedge Funds Weigh In On Quest Diagnostics

A number of large investors have recently made changes to their positions in DGX. State of Alaska Department of Revenue grew its holdings in Quest Diagnostics by 50.9% in the 1st quarter. State of Alaska Department of Revenue now owns 41,796 shares of the medical research company’s stock valued at $5,562,000 after buying an additional 14,090 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of 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 acquiring an additional 18,642 shares in the last quarter. Vanguard Group Inc. increased its position in Quest Diagnostics by 2.5% during 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. Seven Eight Capital LP acquired a new stake in Quest Diagnostics in the 1st quarter worth about $729,000. Finally, Janus Henderson Group PLC boosted its holdings in Quest Diagnostics by 126.0% in the 1st quarter. Janus Henderson Group PLC now owns 37,305 shares of the medical research company’s stock valued at $4,966,000 after purchasing an additional 20,800 shares during the period. Institutional investors own 88.06% of the company’s stock.

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.