Analysts Set Quest Diagnostics Incorporated (DGX) Target Price at $110.04
Quest Diagnostics Incorporated (NYSE:DGX) has earned a consensus rating of “Hold” from the eighteen analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $109.25.
Several equities research analysts have issued reports on DGX shares. UBS AG increased their price target on Quest Diagnostics from $115.00 to $123.00 and gave the stock a “buy” rating in a report on Thursday, July 6th. BidaskClub downgraded Quest Diagnostics from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 16th. Mizuho increased their price target on Quest Diagnostics from $115.00 to $122.00 and gave the stock a “buy” rating in a report on Monday, June 5th. ValuEngine upgraded Quest Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $118.00 price target on shares of Quest Diagnostics in a report on Tuesday, June 13th.
In related news, Chairman Stephen H. Rusckowski sold 59,235 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $108.16, for a total value of $6,406,857.60. Following the completion of the transaction, the chairman now owns 220,049 shares in the company, valued at $23,800,499.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel Stanzione sold 3,803 shares of Quest Diagnostics stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $108.01, for a total transaction of $410,762.03. Following the completion of the transaction, the director now owns 35,359 shares of the company’s stock, valued at approximately $3,819,125.59. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 161,996 shares of company stock valued at $17,517,207. Company insiders own 1.75% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. WFG Advisors LP grew its holdings in shares of Quest Diagnostics by 45.3% in the second quarter. WFG Advisors LP now owns 966 shares of the medical research company’s stock valued at $107,000 after purchasing an additional 301 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Quest Diagnostics by 14,142.9% in the second quarter. Sun Life Financial INC now owns 997 shares of the medical research company’s stock valued at $111,000 after purchasing an additional 990 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Quest Diagnostics by 16.1% in the first quarter. Parallel Advisors LLC now owns 1,279 shares of the medical research company’s stock valued at $137,000 after purchasing an additional 177 shares in the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Quest Diagnostics by 300.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the medical research company’s stock valued at $178,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Quest Diagnostics in the second quarter valued at approximately $180,000. Hedge funds and other institutional investors own 87.10% of the company’s stock.
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Shares of Quest Diagnostics (NYSE DGX) traded up 1.83% during mid-day trading on Wednesday, hitting $93.64. 2,451,287 shares of the stock traded hands. The stock has a market cap of $12.77 billion, a PE ratio of 18.87 and a beta of 0.69. Quest Diagnostics has a one year low of $79.12 and a one year high of $112.97. The stock has a 50-day moving average of $106.58 and a 200 day moving average of $105.42.
Quest Diagnostics (NYSE:DGX) last released its quarterly earnings data on Tuesday, July 25th. The medical research company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.13. Quest Diagnostics had a return on equity of 15.66% and a net margin of 9.28%. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Quest Diagnostics will post $5.67 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 3rd will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, October 2nd. Quest Diagnostics’s dividend payout ratio is presently 36.29%.
Quest Diagnostics Company Profile
Quest Diagnostics Incorporated is a provider of diagnostic information services. The Company operates through two businesses: Diagnostic Information Services and Diagnostic Solutions. The Diagnostic Information Services business develops and delivers diagnostic testing information and services, providing insights that empower and enable a range of customers, including patients, clinicians, hospitals, integrated delivery networks (IDNs), health plans, employers and accountable care organizations (ACOs).
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