Quest Diagnostics Incorporated (NYSE:DGX) declared a quarterly dividend on Wednesday, November 18th, RTT News reports. Shareholders of record on Wednesday, January 20th will be given a dividend of 0.56 per share by the medical research company on Wednesday, February 3rd. This represents a $2.24 annualized dividend and a yield of 1.82%.
Quest Diagnostics has raised its dividend by 34.2% over the last three years and has increased its dividend annually for the last 1 consecutive years. Quest Diagnostics has a payout ratio of 22.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Quest Diagnostics to earn $10.20 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 22.0%.
Quest Diagnostics stock opened at $122.81 on Friday. The stock has a market cap of $16.55 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.36 and a beta of 1.18. The company has a current ratio of 1.40, a quick ratio of 1.32 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $121.18 and its two-hundred day moving average price is $117.05. Quest Diagnostics has a 52 week low of $73.02 and a 52 week high of $131.81.
In other Quest Diagnostics news, SVP Catherine T. Doherty sold 58,392 shares of Quest Diagnostics stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $110.60, for a total value of $6,458,155.20. Following the completion of the sale, the senior vice president now directly owns 126,803 shares in the company, valued at $14,024,411.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen H. Rusckowski sold 291,997 shares of Quest Diagnostics stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $120.00, for a total transaction of $35,039,640.00. Following the completion of the sale, the chief executive officer now owns 529,744 shares of the company’s stock, valued at $63,569,280. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 396,430 shares of company stock valued at $47,039,374. 1.49% of the stock is currently owned by corporate insiders.
Several equities analysts have recently issued reports on DGX shares. Jefferies Financial Group lifted their price objective on shares of Quest Diagnostics from $125.00 to $134.00 and gave the stock a “buy” rating in a research note on Wednesday, October 14th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Quest Diagnostics in a research note on Friday, October 23rd. Citigroup lifted their price objective on shares of Quest Diagnostics from $130.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Quest Diagnostics from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Finally, Mizuho lifted their price objective on shares of Quest Diagnostics from $144.00 to $149.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $126.83.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated provides diagnostic testing, information, and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine testing, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.
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