Quest Diagnostics Incorporated (NYSE:DGX) Receives $144.18 Average PT from Brokerages

Quest Diagnostics Incorporated (NYSE:DGX) has received an average rating of “Hold” from the twelve ratings firms that are covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $146.17.

DGX has been the topic of several recent analyst reports. Citigroup increased their price objective on shares of Quest Diagnostics from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Wednesday. Barclays lifted their price target on shares of Quest Diagnostics from $138.00 to $144.00 and gave the company an “equal weight” rating in a report on Thursday. TheStreet downgraded Quest Diagnostics from a “b-” rating to a “c” rating in a report on Monday, February 5th. Truist Financial lifted their target price on Quest Diagnostics from $145.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday. Finally, UBS Group upped their price target on Quest Diagnostics from $139.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday.

Quest Diagnostics Stock Down 1.5 %

Shares of NYSE DGX opened at $135.47 on Tuesday. The firm has a market cap of $15.04 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.20 and a current ratio of 0.97. Quest Diagnostics has a 1 year low of $119.59 and a 1 year high of $147.96. The firm’s 50 day moving average price is $128.89 and its 200 day moving average price is $131.11.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data on Tuesday, April 23rd. The medical research company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.18. Quest Diagnostics had a return on equity of 15.52% and a net margin of 9.11%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Quest Diagnostics will post 8.75 earnings per share for the current year.

Quest Diagnostics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 8th were issued a dividend of $0.75 per share. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.71. This represents a $3.00 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, April 5th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 37.92%.

Insiders Place Their Bets

In other news, SVP Michael E. Prevoznik sold 5,611 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the completion of the sale, the senior vice president now owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Quest Diagnostics news, SVP Michael E. Prevoznik sold 5,611 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $125.88, for a total transaction of $706,312.68. Following the sale, the senior vice president now directly owns 38,478 shares of the company’s stock, valued at $4,843,610.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael E. Prevoznik sold 661 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $126.14, for a total transaction of $83,378.54. Following the completion of the transaction, the senior vice president now directly owns 40,206 shares in the company, valued at approximately $5,071,584.84. The disclosure for this sale can be found here. Insiders sold a total of 15,150 shares of company stock worth $1,913,202 in the last 90 days. 0.79% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Quest Diagnostics by 12.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,546 shares of the medical research company’s stock valued at $11,121,000 after purchasing an additional 9,541 shares in the last quarter. V Square Quantitative Management LLC increased its position in Quest Diagnostics by 17.2% in the 1st quarter. V Square Quantitative Management LLC now owns 3,114 shares of the medical research company’s stock worth $415,000 after purchasing an additional 456 shares during the last quarter. Simplicity Wealth LLC acquired a new position in Quest Diagnostics in the first quarter worth approximately $243,000. Silver Lake Advisory LLC acquired a new position in shares of Quest Diagnostics during the 1st quarter worth about $269,000. Finally, Amalgamated Bank boosted its position in shares of Quest Diagnostics by 2.0% in the first quarter. Amalgamated Bank now owns 28,842 shares of the medical research company’s stock valued at $3,839,000 after acquiring an additional 552 shares during the period. 88.06% of the stock is owned by institutional investors and hedge funds.

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.