Quest Diagnostics (NYSE:DGX) Upgraded by Leerink Partnrs to Strong-Buy Rating

Quest Diagnostics (NYSE:DGX) was upgraded by analysts at Leerink Partnrs from a “hold” rating to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Jefferies Financial Group restated a “buy” rating and set a $185.00 target price (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $169.00 to $174.00 in a research report on Monday. Truist Financial raised their target price on Quest Diagnostics from $158.00 to $165.00 and gave the stock a “hold” rating in a report on Monday, October 7th. Baird R W raised Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upgraded shares of Quest Diagnostics from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $157.00 to $182.00 in a research note on Wednesday, October 23rd. Six investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Quest Diagnostics currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.15.

Quest Diagnostics Price Performance

NYSE DGX opened at $152.40 on Monday. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.69 and a beta of 0.90. Quest Diagnostics has a 1-year low of $123.04 and a 1-year high of $165.32. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.25 and a quick ratio of 1.17. The business’s fifty day moving average price is $157.03 and its 200-day moving average price is $151.75.

Quest Diagnostics (NYSE:DGX) last posted its 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 company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.43 billion. Quest Diagnostics had a return on equity of 15.25% and a net margin of 8.82%. Quest Diagnostics’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.22 earnings per share. On average, equities analysts predict that Quest Diagnostics will post 8.9 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Karthik Kuppusamy sold 1,775 shares of the 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 directly owns 9,734 shares of the company’s stock, valued at $1,527,459.28. This trade represents a 15.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Michael J. Deppe sold 18,755 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the transaction, the chief accounting officer now owns 34,941 shares in the company, valued at $5,382,661.05. The trade was a 34.93 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.79% of the company’s stock.

Institutional Investors Weigh In On Quest Diagnostics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in Quest Diagnostics by 77.5% during the 2nd quarter. Larson Financial Group LLC now owns 229 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 100 shares during the period. Versant Capital Management Inc boosted its holdings in Quest Diagnostics by 340.4% in the fourth quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 194 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in Quest Diagnostics during the 2nd quarter worth about $40,000. Sentry Investment Management LLC purchased a new position in shares of Quest Diagnostics during the 3rd quarter valued at about $82,000. Finally, Quarry LP acquired a new position in shares of Quest Diagnostics in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Company Profile

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.