Quest Diagnostics (NYSE:DGX) Stock Rating Upgraded by BofA Securities

Quest Diagnostics (NYSE:DGX) was upgraded by stock analysts at BofA Securities from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Briefing.com Automated Import reports. The firm presently has a $142.00 target price on the medical research company’s stock. BofA Securities’ target price indicates a potential upside of 15.72% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on DGX. Mizuho lowered their target price on shares of Quest Diagnostics from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, April 16th. TheStreet raised shares of Quest Diagnostics from a “c+” rating to a “b” rating in a report on Thursday, May 14th. Cfra cut shares of Quest Diagnostics from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from $140.00 to $106.00 in a report on Wednesday, April 22nd. Bank of America raised shares of Quest Diagnostics from a “neutral” rating to a “buy” rating and set a $142.00 target price on the stock in a report on Tuesday. Finally, UBS Group boosted their target price on shares of Quest Diagnostics from $106.00 to $111.00 and gave the company a “neutral” rating in a report on Tuesday, May 5th. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $120.00.

NYSE:DGX opened at $122.71 on Tuesday. The company has a current ratio of 1.38, a quick ratio of 1.27 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $16.35 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.84 and a beta of 1.38. The firm’s 50 day moving average is $114.54 and its 200 day moving average is $105.81. Quest Diagnostics has a 12 month low of $73.02 and a 12 month high of $125.00.

Quest Diagnostics (NYSE:DGX) last posted its quarterly earnings results on Wednesday, April 22nd. The medical research company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.06. Quest Diagnostics had a net margin of 10.36% and a return on equity of 14.79%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.76 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. Quest Diagnostics’s revenue was down 3.6% on a year-over-year basis. Research analysts predict that Quest Diagnostics will post 5.66 earnings per share for the current year.

In related news, SVP Manner Carrie Eglinton sold 5,000 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $111.02, for a total value of $555,100.00. Following the completion of the transaction, the senior vice president now directly owns 24,890 shares in the company, valued at $2,763,287.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen H. Rusckowski sold 11,717 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $112.01, for a total transaction of $1,312,421.17. Following the completion of the transaction, the chief executive officer now owns 249,464 shares of the company’s stock, valued at $27,942,462.64. The disclosure for this sale can be found here. 1.49% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Orion Portfolio Solutions LLC purchased a new position in Quest Diagnostics in the fourth quarter worth $27,000. Procyon Private Wealth Partners LLC purchased a new stake in Quest Diagnostics during the fourth quarter valued at about $29,000. Valeo Financial Advisors LLC purchased a new stake in Quest Diagnostics during the first quarter valued at about $30,000. Wealthcare Advisory Partners LLC boosted its position in Quest Diagnostics by 81.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 342 shares of the medical research company’s stock valued at $27,000 after buying an additional 153 shares during the period. Finally, FinTrust Capital Advisors LLC boosted its position in Quest Diagnostics by 329.9% during the first quarter. FinTrust Capital Advisors LLC now owns 374 shares of the medical research company’s stock valued at $30,000 after buying an additional 287 shares during the period. Institutional investors own 88.88% of the company’s stock.

About Quest Diagnostics

Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.

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Analyst Recommendations for Quest Diagnostics (NYSE:DGX)

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